BYJU’S Alpha Sues Byju Raveendran Over Alleged ‘Misappropriation’ Of $533 Mn

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BYJU’S Alpha, the US-based special purpose finance vehicle of BYJU’S, has sued the edtech startup’s founder Byju Raveendran, his wife and cofounder Divya Gokulnath and advisor Anita Kishore for allegedly ‘misappropriating’ $533 Mn in funds.

The lawsuit alleged that the three orchestrated and executed a lawless scheme to conceal and steal $533 Mn of loan proceeds.

This comes after the US bankruptcy Delaware court ruled in favour of the lenders of BYJU’S for fraudulent transfer of $533 Mn out of the $1.2 Bn term loan B extended to…



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BYJU’S Alpha Sues Byju Raveendran Over Alleged ‘Misappropriation’ Of $533 Mn


BYJU’S Alpha, the US-based special purpose finance vehicle of BYJU’S, has sued the edtech startup’s founder Byju Raveendran, his wife and cofounder Divya Gokulnath and advisor Anita Kishore for allegedly ‘misappropriating’ $533 Mn in funds.

The lawsuit alleged that the three orchestrated and executed a lawless scheme to conceal and steal $533 Mn of loan proceeds.

This comes after the US bankruptcy Delaware court ruled in favour of the lenders of BYJU’S for fraudulent transfer of $533 Mn out of the $1.2 Bn term loan B extended to…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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