Byju’s Alpha Inc, a unit of Byju’s, filed for bankruptcy in the US due to its $1.2 billion debt. The company lacks funds to continue fighting with its parent company. Byju’s Alpha plans to sue a hedge fund in Florida for allegedly helping the parent company hide over $500 million in cash. Parent company Byju’s, an online-education pioneer, continues to run its business in India and beyond even as the fight with creditors threatens its prospects.
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