Think & Learn Pvt Ltd (TLPL), the insolvent parent of BYJU’s, is set to hold around 32% in Aakash Educational Services once a settlement resolving its long-running shareholding dispute with the coaching company is fully implemented.

According to an ET report, the stake will be higher than the roughly 25.75% TLPL held before Aakash’s ₹240 Cr rights issue became the subject of litigation last year. TLPL’s recorded shareholding fell sharply after Aakash withheld a portion of the shares it had subscribed for.

The settlement will include allotment of rights issue shares as well as transfer of existing shares to TLPL, the report said, adding that there would be no cash consideration for the deal between TLPL, Aakash, and the coaching institute’s investor Manipal Group.

Inc42 has reached out to Aakash and Manipal Group for comments on the development. The story will be updated on receiving a response.

This comes a month after the Bengaluru bench of the National Company Law Tribunal (NCLT) directed TLPL’s resolution professional (RP) and successful bidder Comprint Tech Solutions (India) to maintain status quo on assets auctioned by TLPL amid a dispute over their ownership.

The Tribunal’s order followed claims by the RP of another BYJU’s group entity, BYJU’s K3 Education, that goods worth around ₹150 Cr had been auctioned for about ₹16 Cr. K3’s RP argued that the company had a substantial stake in the assets and that their further disposal could leave it without assets to continue its corporate insolvency resolution process (CIRP).

TLPL’s RP disputed the claim, arguing that TLPL had procured the hardware and owned the educational content stored on the devices.

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