Byju’s lenders accused of using bogus loan-default claims to gain control

By Jef Feeley and Reshmi Basu

Lenders to one of India’s hottest tech startups, Byju’s, created bogus default claims tied to a $1.2 billion loan as part of a scheme to gain control of the education-technology provider, the firm’s lawyer told a judge.

 

The distressed-debt lenders are “playing hardball” to create leverage in negotiations to restructure the loan and causing problems for Byju’s executives, Sheron Korpus, a…