Delaware Supreme Court ruling affirms edtech firm BYJU’s defaulted on Term Loan B

The Delaware Supreme Court ruling has affirmed that edtech firm BYJU’s has defaulted on Term Loan B.

BYJU’s US-based lenders on Tuesday said the Delaware Supreme Court affirmed the previous ruling by Delaware Court of Chancery’s and said an event of default had occurred under the credit agreement and entitled BYJU’s lenders and their administrative agent, GLAS Trust for action against the company.