Byju’s $1.2 billion bad loan just cost it a unit in the U.S.

Since last year, the edtech giant is facing the wrath of a group of creditors who had given it a $1.2 billion loan. They wanted it to immediately repay part of the loan.

On Friday, a Delaware judge in the US concluded that the lenders had properly cited the default on loan when taking over control of a unit of Byju’s. Basically Byju’s lost the case.

 What could’ve triggered this lack of confidence amongst the creditors of the Edtech giant?

FREE READ

Job hunt was once a skill test. Now, it’s a patience test too

Tune in.

Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.