US lenders counter Byju's claim on debt
NEW DELHI: US lenders represented by Glas Trust have countered Byju's founder Byju Raveendran's claim on verified debt on the company being merely around Rs 20 crore, and have said that the beleaguered edtech firm will have to pay the entire $1.2 billion Term Loan B along with interest.
About a week ago, Byju had said that verified debt on the company is only Rs 20 crore according to insolvency proceedings and that he may not have to pay any money to the US lenders represented by Glas Trust.
Popular from Business
- 'Couldn't have asked for better company': Zomato CEO's heartfelt message as rival Swiggy makes market debut
- 'Indian economy in sweet spot': Moody's projects India's GDP to grow at 7.2% in 2024
- 6 Altcoins ready to dominate the 2025 bull run
- SBI seeks $1.25 billion loan in one of country's largest bank lending in 2024
- Rexas Finance (RXS) price predictions for 2025, 2030, and 2040
end of article
Trending Stories
- Will banks open only for 5 days a week? Here’s what you should know about IBA’s proposal
- India set to be third largest economy, says S&P Global
- Dalal Street bull run continues! BSE Sensex crosses 69,000 for the first time; Nifty above 20,800
- Byju’s reduces notice period for employees as troubles mount
03:08 Sensex surges over 900 points, Nifty above 20,550 as BJP state election wins bolster Modi's Lok Sabha 2024 prospects- UltraTech to buy building materials business of Kesoram in 7,600 crore deal
- Tata Technologies stock debuts at a bumper 140% premium; share price at Rs 1200 on BSE
Visual Stories
- NEET UG 2024 result awaited: Top 10 NIRF-ranked medical colleges of India
- 7 New Expected Bullet Train Routes in India
- 10 Upcoming High-Speed Expressways That Will Change Highway Travel In India
- 8 Transformational Indian Railways Projects You Shouldn’t Miss
- Why Sensex, Nifty50 Hit New Highs, M-Cap At $5 Trillion: Top Reasons
TOP TRENDS
UP NEXT
Start a Conversation
Post comment