Byju Files Lawsuit Challenging $1.2 Billion Term Loan Acceleration, Seeks Lender Redwood's Disqualification

Edtech major BYJU'S on Tuesday said it has filed a complaint in the New York Supreme Court to challenge acceleration of the USD 1.2 billion (roughly Rs. 9,916 crore) Term Loan B (TLB). The company is also seeking the disqualification of Redwood, who contrary to the terms of TLB, purchased a significant portion of the loan while primarily trading in distressed debt.