Byju’s Legal and Financial Woes: What It Means for India’s Education System

In a recent turn of events in Byju’s never-ending saga, the US lenders recently disputed Byju Raveendran’s claim last week on the company's verified debt to them being merely Rs 20 crore as per the insolvency proceedings.

Glas Trust, which represents the US consortium of lenders, have stated that the embattled ed-tech firm would have to cough up the entire $1.2bn Term B Loan with interest.

The financial trouble of the once most-valued Indian ed-tech start-up began after US-based lenders filed a lawsuit against the ed-tech firm to recover $1.2bn Term Loan B in June 2023.