News > Byju’s lenders submit insolvency filing after missed payment
Byju’s lenders submit insolvency filing after missed payment
26/01/2024 01:15 PM | Click to read full article
Lenders to Byju’s Alpha filed an insolvency petition after the Indian education startup missed payment on a $1.2 billion loan. The move, announced by creditors in an emailed statement on Thursday, is the latest step in the fight between the startup founded by Byju Raveendran, once valued at $22 billion, and its creditors. Lenders have already taken control of its units in Singapore, while the company is challenging their moves in the US.