Verified Debt Claim On Byju’s Is Only Rs 20 Crore, Says Founder
Think & Learn, which owns Byju’s may not have to pay any amount for the disputed USD 1.2-billion Term Loan B due the present “behaviour” of Glas Trust — an agency which is representing US-based lenders — Founder and CEO of the edtach major Byju Raveendran said. In an interview to PTI, Raveendran said the verified debt claim on Byju’s as per the insolvency resolution professional (IRP) is now only Rs 20 crore. Glas Trust has filed an appeal against Byju’s claiming dues of USD 1.35 billion, or Rs 11,432.98 crore, arising out of the raising of USD 1.2 billion by the edtech firm as Term Loan B (TLB) from the lenders in the US.… Read More »Verified Debt Claim On Byju’s Is Only Rs 20 Crore, Says Founder