BYJU's lenders using bogus loan-default claims to gain control: Ed-tech firm tells US court
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.
Source: businesstoday.in
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Byju's, lenders miss August 3 timeline to rework loan terms
The timeline for reaching an amendment was formally announced on July 24 by a steering committee of ad hoc term loan lenders who collectively own more than 85 percent of Byju’s $1.2 billion term loan. The committee had said that it and the company agreed to work collaboratively toward a signed and completed term loan amendment (the “Amendment”) prior to August 3, 2023
Source: moneycontrol.com
Byju's braces for crucial week as lender calls loom amid rising tensions
The edtech company plans talks with lenders to arrive at a mutually agreeable resolution.
Source: moneycontrol.com
Byju's Braces For Crucial Week As Lender Calls Loom Amid Rising Tensions
The edtech company plans talks with lenders to arrive at a mutually agreeable resolution.
Source: news18.com
Byju's lawsuit meritless and an effort to avoid complying with obligations: Lenders
The statement from lenders comes a couple of days after Byju's skipped paying $40 million in interest payments on the term loan it had raised in November 2021. The company instead filed a case against one of its lenders in the New York Supreme Court and also sought disqualification of the lender.
Source: moneycontrol.com