Lenders used bogus default claims to take control: BYJU'S to court

BYJU'S lenders used bogus default claims related to a $1.2 billion loan to gain control, the edtech startup's lawyer told a US court. The lawyer claimed lenders are "playing hardball" and are "making extortionate demands", putting BYJU'S "under a lot of pressure". The lenders' lawyer denied BYJU'S accusations, noting that BYJU'S repeatedly violated loan agreement's terms and acknowledged defaults.