Manipal Group Submits Second EOI for Byju's Parent in Insolvency Process

A company called MEMG India, which is led by Dr. Ranjan Pai, has submitted another offer to buy Byju's parent company, Think & Learn.

Think & Learn is in a lot of debt and is going through a legal process to figure out how to pay its bills.

MEMG India already owns most of a company called Aakash, which helps students study for tests.

Byju's also owns a part of Aakash.

If MEMG India buys Byju's, they could get full control of Aakash.

There was a disagreement about whether Byju's should be allowed to buy more shares in Aakash through something called a rights issue.

Some people who are owed money by Byju's said no, but the courts said yes.

So, Byju's has now put money down to buy its share of Aakash.

This is all part of trying to solve Byju's money problems.