By Jef Feeley and Reshmi Basu 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… Continue reading Byju’s lenders accused of using bogus loan-default claims to gain control
Tag: Byjus
Byju’s misses August 3 deadline to rework $1.2 billion loan terms
Edtech major Byju’s has missed another target date set by its creditors to amend the terms of a $1.2 billion term loan B (TLB), according to the sources. The firm was expected to decide on revisions sought by lenders in the loan’s terms, including part repayment and higher interest payments, by the… Continue reading Byju’s misses August 3 deadline to rework $1.2 billion loan terms
Manipal help Byju’s, August rains, markets, full-service airline
Finally, there is a piece of good news for troubled ed-tech startup Byju’s. Manipal Group chairman Ranjan Pai is in talks to invest in Byju’s-owned Aakash. Byju Raveendran — who holds a 30% stake in Aakash — is expected to partially offload his stake to Pai and use the money to repay a big… Continue reading Manipal help Byju’s, August rains, markets, full-service airline
Amid chaos at Byju’s, what is the other side of startup ethics debate
Premium Byju Raveendran, CEO, Byju’s In June, Byju’s, the world’s most valued education-technology startup, encountered an out-of-syllabus problem. Russell Dreisenstock of Prosus, G V Shankar of Peak XV Partners, and Vivian Wu of Chan Zuckerberg Initiative resigned from its board of directors. It took about a month — the gap should tell a… Continue reading Amid chaos at Byju’s, what is the other side of startup ethics debate