Byju's Lenders Accused Of Using Bogus Default Claims To Take Control

Saturday, 5 August 2023Newsdesk

The distressed-debt lenders are "playing hardball" to create leverage in negotiations to restructure the loan and causing problems for Byju's executives.

New Delhi 05 August 2023

As per news report of NDTV,Lenders to one of India's hottest tech startups, Byju's, created bogus default claims tied to a $1.2 billion loan as part of a scheme to gain control of the education technology provider, the firm's lawyer told a judge.The distressed-debt lenders are "playing hardball" to create leverage in negotiations to restructure the loan and causing problems for Byju's executives, Sheron Korpus, a lawyer for the Bengaluru-base company, said at a hearing in state-court in Delaware Friday.

Source - NDTV