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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
Byju's, India's 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 firm's 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 Byju's amendment proposal, said the people familiar with the development. 'This loan repayment proposal has been submitte...
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.