Byju's loses one of its units to lenders after $1.2 billion loan default

Lenders to Byju's rightly cited a default on a $1.2 billion loan when taking over control of a unit of the edtech startup, a Delaware judge concluded. Delaware Chancery Court Judge Morgan Zurn rejected a complaint by Byju's that Timothy Pohl, tapped by lenders to oversee special-purpose entity, Byju's Alpha, was improperly authorised to take the reins.