India: TLB lenders file insolvency proceedings against BYJU'S, say firm's issues 'entirely self-inflicted'

A group of ad-hoc term loan lenders, who collectively own more than 85% of BYJU’S $1.2-billion Term Loan B (TLB), on Thursday said it has issued a petition to initiate corporate insolvency resolution proceedings against Think & Learn Pvt Ltd (doing business as BYJU’s).