Byjoo Company, which has been facing financial crisis for a long time, has increased its difficulties. Foreign investors have filed a petition against this company.
In November 2021, Baiju secured a $1.2 billion term loan facility from lenders. Then a dispute started between Landers and Byju. He repaid nearly 85 percent of the term loan, later filing a bankruptcy petition.
According to the report, Byju has said that the timing of the action taken by the Landers against the NCLT is baseless.
Recently, Byju’s parent company Think and Learn gave information about the final condition. In the financial year 2021-22, the company suffered a loss of 6679 crores.
In the year 2020-21, the loss was 4143 crores. This loss continued to increase.
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