India, June 24 -- Enroute to ending a long-standing legal duel, legal teams of Aakash Educational Services and the insolvency resolution professional (IRP) of Think & Learn, the parent company of embattled edtech startup BYJU'S, are close to reaching a settlement.

During a hearing at the Bengaluru bench of the National Company Law Tribunal (NCLT) yesterday, the parties informed that their efforts to settle the dispute over Aakash's shareholding were nearing completion. They sought additional time to conclude their discussions.

Aakash's counsel Shyam Sundar HV noted that the contours of a possible settlement were being worked out. The NCLT deferred the matter for a next hearing on July 16. The parties also have an option to approach the ...