Byju Ravindran placed this condition for returning the money to the lenders, know what Byju’s founder said

Byju Ravindran, the founder of the edtech company Byju’s, which is facing a terrible financial crisis, is ready to return the money of the lenders. However, he has put a special condition for returning the money of the lenders. Byju Ravindran said on Thursday that if the lenders are ready to work with him, then he is ready to return the entire money to them. Ravindran said that if the bankruptcy process continues against the company, then the lenders will not get any money.

Byju’s has paid $140 million

Ravindran said, “If they are ready to work with me, I am ready to return the money to them before withdrawing a single rupee. We have paid $140 million, but they wanted the entire $1.2 billion, which we had already committed or invested. Most of the lenders wanted to settle with the company, but there were one or two of them who wanted to make huge profits from it.”

The company is facing bankruptcy proceedings

Let us tell you that the giant edtech company Byju’s is currently facing bankruptcy proceedings. The Board of Control for Cricket in India (BCCI) had approached NCLAT to recover dues of Rs 158.9 crore. After which NCLT started bankruptcy proceedings against Byju’s.

After getting relief in the BCCI case, the company is again in trouble

Byju’s settled the dispute with BCCI after paying the entire dues, after which NCLAT canceled the bankruptcy proceedings initiated against the company. However, the US lenders through their agent Glass Trust once again challenged the NCLAT order in the court, which reinstated the bankruptcy proceedings against Byju’s. Byju’s, which was once the country’s biggest unicorn, is now trapped in a very serious financial crisis.