Byju's Crisis Loan Controversy: Byju's got a big blow from the US Delaware Supreme Court, know how many billion dollars the company is stuck in loan dispute…

Byju’s Crisis Loan Controversy: The Delaware Supreme Court of America has appointed a judge to accuse Byju's of defaulting on a loan of 1.5 billion dollars. Due to this, the problems of Byju's, a tech company facing financial crisis, may increase. In fact, while giving its verdict, the Chancery Court had considered Byju's a defaulter of 1.2 billion dollars.

Now the Delaware court has also approved this decision. Byju's lenders had filed a case in the 'Delaware Court of Chancery' through their private agent Glass Trust, in which they accused Byju of not making payments under the loan agreement.

After the decision of the Delaware court, Byju's lenders can now demand their entire capital back. They can also take control of Byju's American company Byju's Alpha Inc.

According to Byju, the founder and CEO of Byju, Byju itself has admitted that Byju participated in the loan till October 2022.

The committee said- We are glad that the Supreme Court of Delaware has given a different form, which has confirmed what we already knew. That Byju violated the spray loan agreement and did not fulfill it.

After getting a setback from the Delaware court, Byju issued a clarification, the Delaware court has no effect on India's complaint. The company has said that the decision of the Delaware court will have no effect on the ongoing proceedings. The action of the Glass Trust's lawyer is still pending in the New York Supreme Court.

Glass is not a member of the CoC of Think & Larns Insolvency Stock Exchange nor does Glass have any legal status in the US or any rights in India.