Edtech company Byju’s in default of $1.5 bn loan, affirms Delaware SC

The Supreme Court (SC) of Delaware has affirmed that Indian edtech company Byju’s has defaulted on a $1.5 billion loan, enabling lenders to “exercise remedies”.

The ruling on September 23 permits lenders to take control of Byju’s assets in the United States, primarily Byju’s Alpha, and demand full repayment. Timothy Pohl has been appointed as the sole director of Byju’s Alpha for this purpose.