New Delhi, Dec 14 (TIWN) In seemingly fresh trouble for BYJUs, some lenders have asked the edtech unicorn to repay part of a $1.2 billion loan they recently bought into as they renegotiate terms of the debt, sources said on Wednesday.

The lenders recently bought into the loan and are renegotiating the terms of the debt. If Byju’s cannot repay or is unable to liquidate the US assets, the creditors could take legal action, said people familiar with the matter.

The lenders have hired Houlihan Lokey, a global investment bank that focuses on mergers and acquisitions, to advise them on amending covenants after Byju’s allegedly breached terms, according to

the sources. This included a September deadline for filing its results for the year ended March 31, 2022, sources say. Rothschild & Co., which provides global financial advisory, is representing Byju’s in the talks.

“The creditors believe that Byju’s is holding a large part of the funds raised in its US entities and have asked the firm to give their money back from there,” said a person familiar with the matter.

“Discussions are being held right now. If there is no agreement, they can start legal proceedings to liquidate the assets,” the person added.