Open to resolving disputes; won’t do one-on-one meetings: Lenders to Byju’s

A group of lenders to educational technology (edtech) giant Byju’s has told the firm that they’re open to negotiations with the company to resolve litigation and other disputes, according to people familiar with the matter. However, they have told Byju’s that they will not engage in the firm’s proposal for one-on-one meetings, according to sources.

Byju’s recently filed a suit against US-based investment management firm Redwood to challenge the acceleration of the $1.2-billion Term Loan B (TLB) facility, and disqualify the lender for its “predatory tactics”. Byju’s also skipped an interest payment of about $40 million on the loan.