The lenders of Byju’s have appointed the risk advisory firm Kroll to safeguard the ‘charged assets’ of Great Learning and the edtech firm’s Singapore entity Byju’s Pte Ltd (BPL).

Charged assets are the assets used as a collateral to obtain a loan. The step is an attempt to protect their investment so that the assets are not disposed of without their consent and if sold, it is done at the price or terms that are acceptable to the lenders.

Their latest move comes at a time Byju’s has reportedly put the kids reading platform Epic and Great Learning, which is its higher education platform, up for sale as it garners cash to pay off a $1.2 billion loan that it had raised in 2021.

Kroll Pte Ltd on Wednesday announced that Cosimo Borrelli and Jason Aleksander Kardachi were appointed to safeguard the charged assets of Great Learning Education Pte. Ltd (Great Learning) and BPL.

A statement said the appointment was made on behalf of secured creditors of Byju’s Alpha Inc. Borrelli is the co-head of Kroll’s global restructuring practice whereas Kardachi is a managing director in the restructuring practice based in Singapore.

“A primary focus of the appointment is to protect and preserve the assets and businesses owned by Great Learning (including its subsidiary, Northwest Education Pte Ltd. (Northwest Education) and BPL. The operations of Great Learning and Northwest Education are not impacted by the appointment and all courses and programmes offered by these businesses continue as usual,’’ the statement added.