Timothyr Pohl News Today

India Business News: Even as a group of Byju’s major investors are seeking removal of the troubled startup’s founder and group CEO Byju Raveendran from leadership positio

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

Byjus, Indias most-valued startup, has decided to put two of its key assets -- Epic and Great Learning -- on the block to generate $800 million-$1 billion in cash, with an aim to meet the edtech firms various commitments, including repaying the entire $1.2 billion term loan B (TLB) within six months, according to sources. The cash-strapped company has proposed repaying $300 million of the $1.2 billion loan in the next three months, depending on whether the lenders accept Byjus amendment proposal...

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.

In May, Alpha Inc, one of BYJU’S companies in the US, was taken to the Delaware court in relation to recovery of $1.2 billion.

After a long time, it was Christmas at Byjus as a US court rejected a plea by its Term Loan B (TLB) lenders to probe a $500-million transfer from the firms US-based subsidiary to other entities. Further, Byjus claimed it had fully paid the provident fund dues of its employees, quelling media reports that alleged it was withholding PF monies. This and more in todays ETtech Morning Dispatch.

Byju's auditor and three high-profile board members quit, and that's just part of the story

Indias edtech and start-up story will be in danger.

A group of lenders to educational technology (edtech) giant Byjus has told the firm that theyre open to negotiations with the company to resolve litigation and other disputes, according to people familiar with the matter. However, they have told Byjus that they will not engage in the firms proposal for one-on-one meetings, according to sources. Byjus recently filed a suit against US-based investment management firm Redwood to challenge the acceleration of the $1.2-billion Term Loan B (TLB) facil...

Byju's vs Lenders: Byju's recently filed a suit against US-based investment mgt firm Redwood to challenge the acceleration of the $1.2-bn term loan B facility, and disqualify the lender for its 'predatory tactics'