In a critical blow to Indian edtech giant Byju’s, the Delaware Supreme Court has ruled that the company defaulted on a $1.5 billion loan to US lenders. This decision empowers the lenders to seize Byju’s US-based assets, potentially including key subsidiaries, as the company struggles to meet its financial obligations.
The ruling comes after Byju’s failed to make payments on the loan, pushing lenders to take legal action. The decision puts immense pressure on Byju’s, already facing mounting financial challenges, delays in payments, and restructuring efforts.
As the lenders move forward to take control of its US assets, the edtech leader now faces significant hurdles in maintaining its operations abroad.
