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Chaudhry unlikely to return to steer Byju's-owned Aakash Institute: Sources

Economic Times · 1y

Byju's-owned Aakash Institute has abandoned plans for promoter Aakash Chaudhry to return as the chief executive of the coaching business unit. Manipal group chief Ranjan Pai, who owns a 40% stake in the institute, is now poised to lead the company. Pai has become the largest investor in Aakash, while Chaudhry still holds an 11% stake. A new CEO will be appointed by the board. This development follows unsuccessful negotiations between Byju's and the Aakash promoters, and legal battles faced by Byju's.