Byju’s troubles grow: Raveendran takes battle against lenders, over debt and BCCI deal, to court

Byju’s, once a leading edtech company, is caught in a legal and financial battle over its debts and an unpaid sponsorship deal with the Board of Control for Cricket in India (BCCI). The company’s lenders and its suspended directors are in a dispute over control, and the matter has now reached the National Company Law Appellate Tribunal (NCLAT).

The trouble started when Byju’s failed to pay back a massive loan. A group of lenders, represented by Glas Trust, claims that the company owes them Rs 11,432 crore. Since Byju’s was unable to repay, these lenders took the matter to the National Company Law Tribunal (NCLT), which recently ruled in their favor.