Lender group says BYJU's lawsuit is 'meritless' and an 'effort to avoid complying with obligations'

A group of ad hoc term loan lenders, who collectively own more than 85% of BYJU’S $1.2-billion term loan, has issued a statement saying the edtech firm’s lawsuit against them is “meritless” and “simply an effort to avoid complying with its obligations, including making contractually required payments”.