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The Competition Commission of India has penalized Manipal Group entities INR 50 lakhs for closing an acquisition of additional shareholding in Aakash Educational Services without prior merger control approval. This marks the second gun-jumping violation by the Manipal Group involving Aakash, despite arguments that urgent closing was necessary due to the target company's financial distress during its parent entity Byju's insolvency proceedings.

MHSPL and the other Manipal group acquirers are present in the education sector through UNext Learning Pvt. Ltd. and its affiliates MeriTrac Services and Jigsaw Academy. Aakash offers coaching for classes 1 to 8, preparation for scholarship and merit-based entrance tests including olympiads and national talent search examinations, coaching for classes 9 and 10, and science stream coaching for classes 11 and 12, under the ‘Aakash’ brand and through a single subsidiary, Aakash Edutech Private Limited.