Byju’s loses control of US arm as Delaware court upholds default ruling

The Delaware Supreme Court has upheld a ruling that Byju’s defaulted on its $1.2 billion term loan B (TLB), allowing lenders to take control of Byju’s Alpha Inc, the company’s American subsidiary.

The loss is a setback for Byju’s as it closes its options of monetising platforms like Epic and Great Learning, which are part of the US subsidiary, which it was looking to sell to raise funds.