Page 3 - Tangible Play News Today

EdTech giant Byjus, engaged in a dispute with its US lenders, decided to make a bold move.

Byjus has skipped payments due on a USD 1.2 billion loan and instead disqualified the US lender for "predatory" tactics, the education technology startup said on Tuesday. Byjus filed a suit against investment management firm Redwood saying the US entity purchased a significant portion of the

The company filed a suit against investment management firm Redwood saying the US entity purchased a significant portion of the loan

The allegation came out at a court hearing on Thursday in Delaware, where Byju’s Alpha faces a lawsuit over who should control the company. Lenders claim that because of a default earlier this year, they have the right to put their representative, Timothy R. Pohl, in charge.

Alpha Inc faces a lawsuit from an agent acting on behalf of lenders who are owed $1.2 billion. The suit was lodged by Glas Trust Company and investor Timothy R. Pohl, naming BYJU'S Alpha, Tangible Play, Inc., and Riju Ravindran as defendants. Ravindran is the director of Alpha Inc.

Responding to the allegations made by the US-based Delaware Court, the edtech giant said that it has met all the payment allegations of the $1.2 billion loan and its recent fundraise will help them become financially stable.

Indian EdTech giant, Byju’s Alpha, has been sued by an agent for lenders owed $1.2 billion after months of negotiations between creditors and the company.

Lenders accused one of India's hottest tech companies, Byju's Alpha, of hiding $500 million as part of a fight between creditors and the self-proclaimed biggest education technology company in the world.

Last month, regulators in India raided Byju’s offices, seizing documents and digital data

Edtech giant BYJU'S has refuted claims that it is hiding $500 million through its US-based company, BYJU'S Alpha. Terming BYJU's Alpha as a non-operative US ......