Byju’s, lenders resume talks for debt restructuring: Report – Times of India

distressed indian Edtech Startup Byju’s Some of its lenders have resumed talks to restructure its $1.2 billion term loan, Bloomberg News reported on Friday, citing people familiar with the matter.
The report said that the lenders have submitted a detailed modification proposal to the company demanding loan repayments, coupon boosts and investor protection on the loan.
Byju’s will review the proposal and respond by early next week. It did not immediately respond to a Reuters request for comment on the report.
The fresh talks come at a time when the company and its lenders are embroiled in a legal dispute over debt restructuring.
Once counted among the most successful startups in India, byju’s It is being seen by many as a governance crisis after it lost three global investors — Peak XV, Prosus NV, and the Chan-Zuckerberg Initiative — and board members to auditor Deloitte last week.
The company has also been raided on suspicion Violation of Foreign Exchange Laws,