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Byju’s US lenders invoke parent company's guarantee in insolvency proceedings

Economic Times · 1y

The National Company Law Tribunal has directed Byju's to respond to two insolvency petitions filed against the company by US lenders and the Board of Control for Cricket in India. The first petition was filed by Glas Trust Company, the administrative agent for a group of lenders, claiming default on a $1.2 billion loan. The second petition is from BCCI, alleging non-payment of dues. Byju's has been given three weeks to file objections in the first case and a separate hearing is scheduled for the second case.