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Court official excludes US lenders from Byju’s creditors committee: Report | Mint

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Court official excludes US lenders from Byju’s creditors committee: Report | Mint

US lenders attempting to collect over $1.2 billion from Think & Learn (Byju's) have been removed from the creditors committee overseeing the insolvency case against the Indian education tech company. The lenders accused the interim resolution professional, Pankaj Srivastava, of plotting to reject their claims and manipulating the creditors vote. They argue that Srivastava's actions of stripping them of their claims are unprecedented and illegitimate. The lenders have been trying to force Byju's into an insolvency proceeding in an Indian court for months, with limited success. The case is also being fought in the US, where lenders are trying to locate $533 million allegedly hidden by Byju's founder, Byju Raveendran.

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