In a recent development, Byju’s and Aakash Educational Services Ltd (AESL) have decided to withdraw their merger application, stating it as a pre-planned procedural step. Byju’s had initially acquired Aakash in April 2021, intending to merge the companies in a cash-and-stock deal worth $940 million. However, the merger faced hurdles as the Chaudhry family, founders of AESL, resisted completing the share swap, citing governance concerns. Concurrently, Byju’s is embroiled in an 'oppression and mismanagement case' filed by investors, impacting its financial decisions and operations.