Screwvala, who is also the founder of the now defunct movie production company UTV Group, hit out at BYJU’s after the latter filed a complaint against its lenders in the New York Supreme Court.
Responding to the allegations made by the US-based Delaware Court, the edtech giant said that it has met all the payment allegations of the $1.2 billion loan and its recent fundraise will help them become financially stable.
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.