Foreign lenders file insolvency case against Byju’s, France-based vendor, Teleperformance moves NCLT against dues

Trouble seems to be mounting for Byju’s. On Thursday, the company faced a setback with two more insolvency petitions being filed against it. Foreign lenders, who have collectively extended more than 85% of the $1.2 billion term loan B (TLB), filed an insolvency petition against the firm in the National Company Law tribunal earlier this week.

Meanwhile on Thursday, France-based Teleperfomance Business Services also filed a similar plea in the tribunal for recovery of its dues. While the petition of the foreign lenders is yet to be taken on record by the registry of the Bengaluru bench of the NCLT, Teleperformance’s plea has been registered.