An unredacted copy sourced by The Morning Context lists a series of defaults by the edtech company of the covenants it agreed to when taking a $1.2 billion term loan.
The Morning Context has from an online legal research platform sourced a non-redacted copy of a lawsuit filed against Byju’s by its lenders in a Delaware court.
The document—all reporting of which has relied on a redacted version so far—has important details and establishes a timeline of events. It mentions how many times the borrowers (i.e. various Byju’s entities) have accepted an event of default, agreed to make amends and done nothing. After a careful reading, we realized it is important in the public interest to talk about the assertions made by the lenders. Because it is not about just …
Pradip is a co-founder at The Morning Context and leads our newsletters vertical. He has previously worked at The Ken as a staff writer, at Mint as an assistant features editor and the Deccan Chronicle as a copy editor. He works with a slew of expert newsletter writers across subjects and domains. His own writing spans the gig economy, farmers caught in the crossfire of technology, global warming and parents trapped in the edtech wave. Some of his best stories have come at the intersection of technology and human endeavour.
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