Byju's takes Rs 300 crore unsecured loan from Aakash for 'principal biz'

The loan was granted at an interest rate of 7.5 per cent per annum, according to the filing

Educational technology giant Byju’s has taken a loan of Rs 300 crore from its subsidiary Aakash Educational Services (AESL), which it acquired for nearly $1 billion last year. 

AESL, in its filing with the Ministry of Corporate Affairs, said that Think & Learn — the parent firm of Byju’s — is in need of funds for its ‘principal business activities’.

It said the board of directors of the company at its meeting on October 3, subject to the approval of the members at the general meeting, has given its approval for granting the unsecured loan to Think & Learn for