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The successful execution of the loan amendment would "immediately" solve for the loan's acceleration and end all open litigation and avoid further enforcement actions.
These lenders, collectively own more than 85 per cent of Byju's USD 1.2 billion term loan.
The news comes a day after ET reported that the directors of embattled edtech major Byjus parent, Think and Learn Pvt Ltd, may be summoned by the Ministry of Corporate Affairs (MCA) in their probe over alleged corporate governance lapses.
Prosus had downsized the value of its 9.6% stake in Byju's to around $493 million in the financial year ended March 31, the report added
India Business News: Byju’s founder, Byju Raveendran, assured investors that the Indian edtech firm would finally release its long-delayed financials and strengthen accoun