US lenders counter Byju’s claim, says edtech has to repay full $1.2 bn

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.

The founder of Think and Learn (TLPL) and owner of BYJU’S brand, Byju Raveendran, had about a week ago said that verified debt on the company is only Rs 20 crore as per insolvency proceedings and he may not have to pay any money to the US lenders represented by Glas Trust.