Byju's may not have to pay Glas Trust; verified claim is only Rs 20 cr: CEO

Think & Learn, which owns Byju's may not have to pay any amount for the disputed USD 1.2-billion Term Loan B due the present "behaviour" of Glas Trust -- an agency which is representing US-based lenders -- Founder and CEO of the edtach major Byju Raveendran said.

In an interview to PTI, Raveendran said the verified debt claim on Byju's as per the insolvency resolution professional (IRP) is now only Rs 20 crore.

Glas Trust has filed an appeal against Byju's claiming dues of USD 1.35 billion, or Rs 11,432.98 crore, arising out of the raising of USD 1.2 billion by the edtech firm as Term Loan B (TLB) from the lenders in the US.

Raveendran said the TLB is a traded instrument that is currently trading around 20 cents, putting the current value of the debt raised by the company at USD 240 million.

"The way they (Glas Trust) are acting, they are not going to get any money. They only might drop it to zero value. The first question, when Glas comes to the court, who is Glas? Now, we are ...