Karnataka HC restrains Byju Raveendran from alienating property assets

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The Karnataka High Court on Monday passed an interim order restraining Byju Raveendran, founder of troubled edtech firm Byju’s, and his investment firm, Byju’s Investments Pte Ltd (BIPL), from selling, mortgaging, or transferring any properties.

The court’s order followed a petition by Qatar Holding, a subsidiary of the sovereign wealth fund of Qatar, which is seeking to enforce a $235 million arbitral award against Raveendran and his investment firm.

The claim also has an interest component of 4% per annum, compounded daily, from February 28…



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Karnataka HC restrains Byju Raveendran from alienating property assets



The Karnataka High Court on Monday passed an interim order restraining Byju Raveendran, founder of troubled edtech firm Byju’s, and his investment firm, Byju’s Investments Pte Ltd (BIPL), from selling, mortgaging, or transferring any properties.

The court’s order followed a petition by Qatar Holding, a subsidiary of the sovereign wealth fund of Qatar, which is seeking to enforce a $235 million arbitral award against Raveendran and his investment firm.

The claim also has an interest component of 4% per annum, compounded daily, from February 28…



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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