--- title: "Byju's Insolvency Report: US Lenders Are Forcing It To Shutdown" description: "Byju's the popular education provider in India is about to shut down due to insolvency pushed by US lenders" author: "Sanjay Goenka" published: 2024-08-14 updated: 2024-08-21 canonical: https://www.mindstick.com/news/3971/byju-s-insolvency-report-us-lenders-are-forcing-it-to-shutdown category: "technology" tags: ["education", "application"] reading_time: 2 minutes --- # Byju's Insolvency Report: US Lenders Are Forcing It To Shutdown India's most popular [edu tech platform](https://training.mindstick.com/) Byju's is about to be shut down as some US lenders are pushing it towards insolvency. They approached the [Supreme Court](https://yourviews.mindstick.com/view/81335/reservation-is-not-a-fundamental-right-supreme-court) and filed a plea based on that the education-based company given its testaments and the insolvency-related facts were quashed by the SC. The topmost [court of India](https://yourviews.mindstick.com/story/2174/10-landmark-cases-laws-of-the-supreme-court-of-india) just now again started the proceeding in the matter of the edutech platform Byju's by a representing **U.S. lender** who revealed the fact that they are owed $1 billion by the company. Highlights 1- The Supreme Court is examining Byju's Case of Insolvency 2- U.S. lenders are giving facts that they are owed $1 billion by Byju's 3- Byju's paid $19 million to the [cricket board](https://answers.mindstick.com/qa/38924/which-committee-has-recommended-change-in-the-structure-and-ecosystem-in-the-indian-cricket-board) to settle an insolvency dispute [Byju's](https://yourviews.mindstick.com/view/85412/why-byjus-is-becoming-a-educational-startup-in-india-and-globe) is under great threat of being insolvent following the proceeding running on in the highest court in India. The matter also relates to the cricket body which said it was not paid the sponsorship dues, similarly, the Edutech company also represents another matter in which some U.S. lenders are asking for some due amounts which are approx $1 billion. "We are staying the (appeals tribunals) judgement," said the **[Chief Justice of India](https://answers.mindstick.com/qa/32046/who-is-the-first-chief-justice-of-india) [DY Chandrachud](https://answers.mindstick.com/qa/98266/why-is-justice-dy-chandrachud-is-being-criticised)** in court and declared the next debating date as 23 August 2024. During the court hearing, the company and the opposition lawyers worked to oppose the request from the Glass Trust. To settle the insolvency matter with all the bodies **Byju's paid approximately $19 million** which was due to the cricket board but the ordering and ruling are making the matter more complicated. Byju's is an [online platform](https://www.mindstick.com/blog/302890/how-to-choose-the-right-online-platform-for-learning) that provides [online education](https://answers.mindstick.com/qa/113763/how-has-online-education-transformed-traditional-learning-methods-in-the-modern-era) to students and learners across 21 countries and has more than 27,000 employees including 16,000 teachers get to know in all over the world during [COVID-19](https://www.mindstick.com/blog/301600/5-ways-scientists-can-help-during-the-covid-19) when it started to offer the virtual platform for learning and educating purposes.\ --- Original Source: https://www.mindstick.com/news/3971/byju-s-insolvency-report-us-lenders-are-forcing-it-to-shutdown Copyright © MindStick Software Pvt. Ltd. This Markdown version is provided for developers, AI systems, and offline reading.