Indian edtech giant Byju’s has made a repayment proposal to lenders, in which the firm has offered to pay back its entire USD 1.2 billion term loan in less than six months, according to media reports.

The reports further added that the company is offering to repay USD 300 million of the distressed debt within three months if the amendment proposal is accepted and the remaining amount in the subsequent three months. These details come from anonymous sources familiar with the matter. The lenders are currently reviewing the proposal and seeking more information about how the repayment will be funded.

Byju’s and its lenders have been in conflict for nearly a year. They have failed to negotiate and revise their loan agreement. Byju’s chose not to make an interest payment on its term loan, adding to the dispute. The company is seeking a quick resolution and amendment, but it’s uncertain if an agreement will be reached. This is an important step in their efforts to turn around the company, which was once valued at USD 22 billion.

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