Byju’s legal battles: US court ruling, new RP and whistleblower claims

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The US Bankruptcy Court for the District of Delaware on Friday determined that Byju’s suspended director Riju Ravindran, founder Byju Raveendran, hedge fund Camshaft Capital Fund, and the parent company Think & Learn are responsible for defrauding its US entity, Byju’s Alpha Inc, and its lenders.

This development was announced by the lenders of Byju’s $1.2 billion term loan. They stated that the court confirmed that several fund transfers from Alpha were fraudulent and amounted to theft. It also ruled that Riju Ravindran had breached his duties as…



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Byju’s legal battles: US court ruling, new RP and whistleblower claims


The US Bankruptcy Court for the District of Delaware on Friday determined that Byju’s suspended director Riju Ravindran, founder Byju Raveendran, hedge fund Camshaft Capital Fund, and the parent company Think & Learn are responsible for defrauding its US entity, Byju’s Alpha Inc, and its lenders.

This development was announced by the lenders of Byju’s $1.2 billion term loan. They stated that the court confirmed that several fund transfers from Alpha were fraudulent and amounted to theft. It also ruled that Riju Ravindran had breached his duties as…



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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