US lenders dispute Byju's claim over $1.2bn debt repayment, initiating legal action after alleging improper transfer of $500m.

US lenders, represented by Glas Trust, dispute Byju Raveendran's claim regarding his edtech company's debt, insisting that Byju's must repay the full $1.2 billion Term Loan B with interest. This legal conflict arose after lenders initiated action to recover the loan, alleging Byju's improperly moved $500 million out of the US. Byju's counters that the verified debt is only about Rs 20 crore and that the lenders cannot recover the dues.

September 15, 2024
5 Articles

Further Reading