[ad_1] NEW DELHI: Responding to the recent lawsuit filed by troubled edtech startup Byju’s in the New York Supreme Court, a group of ad hoc term loan lenders, who collectively own more than 85% of the firm’s $1.2 billion term loan on Thursday said that the lawsuit is ‘meritless’ and simply an effort to avoid … Read more
[ad_1] NEW DELHI: Byju’s on Tuesday said that it has filed a suit in the New York Supreme Court to challenge acceleration of $1. 2-billion term loan B(TLB) repayment.The development comes aday after a deadline for Byju’s to make a $40-million quarterly interest payment on its $1. 2-billion loan lapsed. The edtech major said it … Read more
[ad_1] Lenders accused one of India’s hottest tech companies, Byju’s Alpha, of hiding $500 million as part of a fight between creditors and the self-proclaimed biggest education technology company in the world.The allegation came out at a court hearing on Thursday in Delaware, where Byju’s Alpha faces a lawsuit over who should control the company. … Read more