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Earlier today, a report stated that BYJU'S is engaged in discussions with three board members of the company who stepped down from their positions.
Byjus board resignation: The resignations by the auditor and board members complicate the troubles that the company is facing
Byju’s did not pay $40 million in interest that was due on Monday, according to people with knowledge of the matter. The company said in a statement June 6 that it has filed a complaint concerning the loan to the New York Supreme Court.
Education startup Byju's has elected not to make further payments on a $1.2 billion loan after a dispute with lenders, escalating a conflict that could jeopardize the future of one of India's highest-flying startups.
This makes Byju’s one of the largest Indian startups ever to miss payment on a dollar loan