Dr. Ranjan Pai-led Manipal Education and Medical Group India (MEMG India) has formally submitted an Expression of Interest (EOI) to partake in the Corporate Insolvency Resolution Process (CIRP) of the struggling edtech company Byju's parent, Think & Learn. This development was communicated to the exchanges on November 13, following an extension of the deadline for the process to November 13, 2025. This marks MEMG's second EOI submission for Think & Learn, signaling growing competition in the Indian edtech space.

As per the documents submitted to the Resolution Professional (RP), MEMG India has declared its interest in being included in Think & Learn's Prospective Resolution Applicants (PRAs) list. The stated purpose is to thoroughly examine the company’s financial and operational details, crucial for evaluating a potential resolution plan. To facilitate this assessment, MEMG has specifically requested access to the Information Memorandum, the Virtual Data Room, the evaluation matrix, and other relevant CIRP-related information.

The process dictates that the Resolution Professional will review MEMG's eligibility criteria. Subsequently, a provisional list of PRAs will be issued, followed by a final list after verification and approval from the Committee of Creditors (CoC). While the submission of an EOI does not automatically guarantee shortlisting or approval for the subsequent phase of the resolution process, MEMG India appears to be the only applicant that has submitted an EOI for Think & Learn, highlighting its strategic positioning.

The insolvency proceedings for Think & Learn are currently before the National Company Law Tribunal (NCLT). The RP's mandate includes inviting and evaluating resolution plans with the ultimate goal of reviving or restructuring the company. MEMG's submission includes all statutory undertakings mandated by the Insolvency and Bankruptcy Code (IBC), 2016, certifying its compliance with eligibility norms for PRAs and confirming it is not disqualified under Section 29A of the IBC. Affidavits, confidentiality commitments, and e-stamp executed documentation were also submitted as part of its filing.

This strategic move by Manipal comes as Dr. Ranjan Pai’s family office, which holds the largest shareholding in Aakash Educational Services (AESL), plans to invest approximately ₹250 crore in the ongoing ₹450-500 crore rights offer for Aakash. Manipal Group emphasized that a successful resolution with Think & Learn would significantly aid in business consolidation of Aakash, where Manipal already holds a majority stake, highlighting a broader strategic objective behind the EOI.