India’s expanding economy continues to attract foreign investment, necessitating a legal system that effectively safeguards these investments. This article explores and analyses the legal mechanisms available to foreign investors/creditors within the Indian judicial and insolvency framework. The dispute between Indian ed-tech giant Byju’s and its American creditor, GLAS Trust Company LLC (GLAS Trust), elucidates the complex enforcement landscape foreign investors encounter in India when tackling with insolvency and debt recovery proceedings.
Background of the Dispute
Byju’s, an Indian ed-tech company once valued at $22bn, raised $1.22bn through a Term Loan B (TLB) in 2021, with GLAS Trust acting as the collateral agent on behalf of…
