US lenders demand Byju’s repay $1.2 billion plus interest

Baiju faces increased economic pressure as the U.S. lenders require $1.2 trillion in interest-bearing term loans (TLBs). This is after a legal wrangle in which Byaj founder Byaju Ravindran claimed that the accepted debt was only ₹20 crore. However, the U.S. the creditors, represented by the Glass Trust, contested this claim by arguing that the debt should be paid in full. They also allege that Byju’s breached the loan agreement by obtaining $500 million outside the United States and breaching key terms .

Lenders have accused Byju of trying to stave off the bankruptcy proceedings, arguing that the company has no rights Despite Byju’s efforts to challenge accelerated loans, creditors claims that Edtech must repay the entire debt, notwithstanding changes in market conditions , creditors seek recovery through various legal processes in the US. and India .

This financial dispute comes at a critical time for Byju’s, which has already faced several leadership exits including its CFO and General Counsel amid mounting scrutiny over its financial practices The outcome of this lawsuit results could have far-reaching implications for the future of the once-high -flying Indian adtech company.