Byju’s creditors appoint Kroll to help 'safeguard' assets, including Great Learning

Creditors of edtech major Byju's on Wednesday appointed risk and advisory firm Kroll to ‘safeguard’ assets, including Great Learning. Kroll announced that Cosimo Borrelli and Jason Aleksander Kardachi were appointed to safeguard the charged assets of Great Learning Education and Byju’s. "The appointment was made on behalf of secured creditors of BYJU’s Alpha Inc, as part of the secured lenders’ exercise of their security rights following defaults by BYJU’s Alpha Inc," said Kroll in a press release.

A primary focus of the appointment is to protect and preserve the assets and businesses owned by Great Learning (including its subsidiary, Northwest Education ) and BPL. The operations of Great Learning and Northwest Education are not impacted by the appointment and all courses and programs offered by these businesses continue as usual, assured Kroll.

Northwest Education is a Singapore-based executive education company that Byju’s-owned professional learning company Great Learning acquired in May 2022 for $100 million.

Kroll said it is working closely "with the management of Great Learning and Northwest Education to ensure the continued delivery of high-quality learning experiences and is committed to the smooth operations and continued growth of their business". Mohan Lakhamraju, Founder and Chief Executive Officer of Great Learning, continues his leadership of the Great Learning business and management team.

Mohan said, "I am happy to see the Kroll team's commitment towards Great Learning's high quality education and continued growth and look forward to collaborating with them towards the realisation of our mission of enabling career success through transformative learning."

Byju’s and lenders have been fighting a legal battle in the US over the $1.2 billion term loan after the edtech company defaulted on interest payment.