Lenders to Byju’s, a leading Indian ed-tech company, cited a default on a $1.2 billion loan as grounds to replace a key company figure with their nominee, ruling affirmed by a Delaware judge. The judge determined the lenders were within their rights to appoint their representative after defaults emerged. Byju’s, dealing with a loan repayment push following a downturn post-pandemic, faced searches by government investigators. This dispute influenced some investors to devalue their stakes in the company. Byju’s contested the claims of default, while the lender group welcomed the court’s recognition of the defaults. The lenders, operating under the loan terms, took over pledged shares in Byju’s Alpha due to a triggered default, appointing a sole director to take control. The court dismissed Byju’s concerns over excessive fees paid to the director as authorized under a status-quo order to safeguard Byju’s Alpha’s interests.