Under the proposed arrangement, Think & Learn would get the stake in exchange for withdrawal of litigation initiated by the company and its lenders against Aakash and Manipal, they said. Reuters earlier reported that the lenders were seeking an about 30% stake in Aakash and that legal action against Byju’s founder, Byju Raveendran, would be dropped.

Think & Learn's creditors have approved a settlement for the Aakash Educational Services shareholding dispute. This development brings Byju's parent company closer to resolving a…

Under the proposed arrangement, Think & Learn would get the stake in exchange for withdrawal of litigation initiated by the company and its lenders against Aakash and Manipal,…