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The ed-tech start-up, which provides services to more than 150 million students did not pay $40 million in interest due Monday
The company is also seeking the disqualification of Redwood, who contrary to the terms of TLB, purchased a significant portion of the loan while primarily trading in distressed debt
Read more about BYJU'S moves New York Supreme Court challenging acceleration of USD 1.2 bn Term Loan B on Devdiscourse
Edtech major BYJU'S on Tuesday said it has filed a complaint in the New York Supreme Court to challenge acceleration of the USD 1.2 billion Term Loan B (TLB)
Edtech major Byju's on Tuesday said it has filed a complaint in the New York Supreme Court to challenge acceleration of the $1.2 billion Term Loan B (TLB). The company is also seeking the disqualification of Redwood, who contrary to the terms of TLB, purchased a significant portion of the loan while primarily trading in distressed debt. 'Byju's has had to take these measures following a series of predatory tactics by the lenders, led by Redwood,' the company said in a statement.