Byju's Debt Claims: TLB Obligations and Glas Trust's Response
US Lenders Counter Byju's Debt Claims
In a recent development, US lenders represented by Glas Trust have disputed claims made by Byju Raveendran, founder of BYJU'S, regarding the company's verified debt. Raveendran had previously asserted that the verified debt amounts to merely Rs 20 crore under current insolvency proceedings.
Obligations Under Term Loan B
However, the lenders have firmly stated that Byju's is indeed required to repay the full $1.2 billion Term Loan B, alongside accruing interest. This clarification sheds light on the financial obligations facing the beleaguered edtech firm.
- The founder's claims differ sharply from lender expectations.
- The outcome could significantly impact Byju's financial stability.
- Investors are closely watching for further developments.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.