Byju's, once among the world's most valuable startups, faced many challenges with venture capital funding and the demand for online learning becoming scarce in a post-Covid world.
The AGM was held at a crucial juncture, as the company navigates through a series of challenges, including being dragged to NCLT by BCCI and a delay in November salary payments for a segment of its employees
People familiar with the matter also stated that discussions on more lenient terms, including lower coupon and more time to repay, are continuing and no final decision has been reached.