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Kroll Pte. Limited Kroll today announced that Mr. Cosimo Borrelli and Mr. Jason Aleksander Kardachi were appointed to safeguard the charged assets of Great Learning Education Pte. Ltd. Great Learning and Byjus Pte. Ltd. BPL.
The appointment was made as part of the secured lenders’ exercise of their security rights following defaults by Byju's Alpha Inc.
India Business News: NEW DELHI: Lenders of Byju’s have appointed risk advisory firm Kroll to safeguard the charged assets of Great Learning and the troubled edtech firm’s .
Edtech company claimed its agreement with lenders did not explicitly proscribe movement of funds
Lenders have alleged that Byju's hid $533 mn in an obscure three-year-old hedge fund to avoid it being seized to make up for a loan default, but the ed-tech major claimed its agreement with lenders did not explicitly proscribe movement of funds