{"id":66674,"date":"2024-06-06T02:46:01","date_gmt":"2024-06-06T02:46:01","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/06\/06\/troubled-co-byjus-us-units-face-bankruptcy-case-over-1-2-billion-loan-times-of-india\/"},"modified":"2024-06-06T02:46:01","modified_gmt":"2024-06-06T02:46:01","slug":"troubled-co-byjus-us-units-face-bankruptcy-case-over-1-2-billion-loan-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/06\/06\/troubled-co-byjus-us-units-face-bankruptcy-case-over-1-2-billion-loan-times-of-india\/","title":{"rendered":"Troubled co Byju\u2019s US units face bankruptcy case over $1.2 billion loan &#8211; Times of India"},"content":{"rendered":"<div style=\"text-align:center\"><img loading=\"lazy\" decoding=\"async\" width=\"400\" height=\"225\" src=\"https:\/\/i1.wp.com\/static.toiimg.com\/thumb\/msid-110752207,imgsize-441272,width-400,resizemode-4\/110752207.jpg?resize=400,225&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Troubled co Byju\u2019s US units face bankruptcy case over .2 billion loan &#8211; Times of India\" title=\"Troubled co Byju\u2019s US units face bankruptcy case over .2 billion loan &#8211; Times of India\" \/><\/div><p> <br \/>\n<\/p>\n<div data-articlebody=\"1\">\n<div class=\"T22zO\">\n<section class=\"D3Wk1  clearfix id-r-component leadmedia undefined undefined  VtlfQ\" style=\"top:0px\">\n<div class=\"D3Wk1\">\n<div class=\"zPaFh\">\n<div class=\"wJnIp\"><\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<p>MUMBAI: In a fresh jolt to struggling startup Byju\u2019s, some of its <!-- -->term loan<!-- --> lenders have filed petitions in a US Court, seeking to initiate involuntary Chapter 11 <!-- -->bankruptcy<!-- --> proceedings against the company\u2019s US subsidiaries Epic, Tynker and Osmo.<br \/>Through this move, the <!-- -->lenders<!-- --> are seeking to protect and maximise value of the entities for the benefit of all stakeholders and prevent further diversion of assets, they said in a statement on Wednesday.<!-- -->The three entities were the US-based guarantors of the $1.2-billion term loan. The petition has also been supported by Glas Trust Company \u2014 the administrative agent of the term loans. Byju\u2019s did not immediately comment on the development.<br \/>The lenders said that they are willing to infuse the necessary capital into Epic, Tynker and Osmo to reorganise the businesses. Once valued at $22 billion, Byju\u2019s spent nearly $820 million in all to acquire these businesses through 2019-21 to expand its US footprint. Of the three entities, Epic \u2014 the most expensive acquisition at $500 million \u2014 was also put on the block by the cash-strapped company to repay the term loan to lenders.<br \/>Even though Byju\u2019s defaulted on term loan obligations, the lenders said they tried to help the firm work through the situation. However, the company\u2019s management has no intention or the ability to honour its obligations under the term loan.<\/p>\n<\/div>\n<p><script>!(function(f, b, e, v, n, t, s) {\n    function loadFBEvents(isFBCampaignActive) {\n      if (!isFBCampaignActive) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        if (f.fbq) return;\n        n = f.fbq = function() {\n          n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments);\n        };\n        if (!f._fbq) f._fbq = n;\n        n.push = n;\n        n.loaded = !0;\n        n.version = '2.0';\n        n.queue = [];\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/connect.facebook.net\/en_US\/fbevents.js', n, t, s);\n      fbq('init', '593671331875494');\n      fbq('track', 'PageView');\n    };\n    function 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JarvisUrl=\"https:\/\/jarvis.indiatimes.com\/v1\/feeds\/toi_plus\/site_settings\/643526e21443833f0c454615?db_env=published\";\n        window.getFromClient(JarvisUrl, function(config){\n          if (config) {\n            loadGtagEvents(config?.isGoogleCampaignActive);\n            loadFBEvents(config?.isFBCampaignActive);\n            loadSurvicateJs(config?.allowedSurvicateSections);\n          }\n        })\n      }\n    };\n  })(\n    window,\n    document,\n    'script',\n  );<\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/timesofindia.indiatimes.com\/business\/india-business\/troubled-co-byjus-us-units-face-bankruptcy-case-over-1-2-billion-loan\/articleshow\/110752209.cms\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MUMBAI: In a fresh jolt to struggling startup Byju\u2019s, some of its term loan lenders have filed petitions in a US Court, seeking to initiate involuntary Chapter 11 bankruptcy proceedings against the company\u2019s US subsidiaries Epic, Tynker and Osmo.Through this move, the lenders are seeking to protect and maximise value of the entities for the 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