India, March 1 -- A US bankruptcy court has ruled in favour of the lenders of BYJU'S in connection with a case involving alleged fraudulent transfer of $533 Mn out of the $1.2 Bn term loan B (TLB) extended to the troubled edtech startup.

While granting motions moved by BYJU'S Alpha, a bankrupt US-based subsidiary of the edtech company which was taken over by the lenders after a loan default, Justice John T Dorsey of the US bankruptcy court in Wilmington, Delaware on Thursday (February 27) directed both the creditors and BYJU'S to submit a "joint proposed order" on the quantum of damages.

"The parties should submit a joint proposed order under certification of counsel. If unable to agree on the amount of the judgment, the parties should ...