Byjus Alpha News Today

The investors in Byju’s had sought an injunction against the sale of shares of Aakash Educational Service by citing a default in payment of a loan of over Rs 11,000 crore obtained from US lenders.

A unit of Byju’s, once one of India’s hottest tech startups, was put into bankruptcy in the US by a court-appointed agent who took over the shell company after it defaulted on $1.2 billion in debt.

India Business News: MUMBAI: In yet another setback for Byju’s, its foreign term loan lenders have filed a petition to initiate corporate insolvency resolution proceedings.

In connection with the petition filing, the Ad Hoc Group issued the following statement,

Byju’s, which borrowed $1.2 billion in the US in November 2021, moved $533 million of it to Camshaft Capital Fund, a three-year-old hedge fund.

Byju's, the Indian edtech giant, has faced another setback as a US court ruled in favor of its lenders. The court stated that the lenders' move to rep

In Primeshots today: RBI orders faster release of property papers; fresh lawsuit slapped on Byjus; Juniper raises USD350 million

Byju's and its term loan B lenders have extended their US legal dispute delay until October 6, as they continue discussions for a out-of-court resolution.

India Business News: NEW DELHI: Troubled edtech startup Byju's and its lenders have missed an initial deadline to rework the terms of its $1.

Raveendran also said the $1.2 billion term loan negotiations have taken “a constructive turn” and said he is “very confident of achieving a positive outcome in the next few weeks without the need of a legal or court intervention”.