US court orders Byju Raveendran to pay over $1 billion in default judgement

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The US bankruptcy court has held Byju’s founder Byju Raveendran in default and ordered him to pay more than $1 billion after ruling that he obstructed discovery in the case involving the missing Alpha Funds.

The court issued the default judgment after finding that Raveendran consistently ignored orders and failed to participate in the proceedings, following a motion for default that the lenders filed on August 11.

“The court acknowledges that the relief granted herein is extraordinary. But the circumstances of this case are, frankly, unique and…



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US court orders Byju Raveendran to pay over $1 billion in default judgement



The US bankruptcy court has held Byju’s founder Byju Raveendran in default and ordered him to pay more than $1 billion after ruling that he obstructed discovery in the case involving the missing Alpha Funds.

The court issued the default judgment after finding that Raveendran consistently ignored orders and failed to participate in the proceedings, following a motion for default that the lenders filed on August 11.

“The court acknowledges that the relief granted herein is extraordinary. But the circumstances of this case are, frankly, unique and…



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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