US lenders have undertaken legal activities against byju Raveendran, the founder of the Indian Education Company-technology byju’s and his wife Divia Gokulat, in the US court for bankruptcy. Delaware, Wilmington, has accused the couple of being personally responsible for more than $ 500 million in a missing loan revenue.
The trial outlined the ongoing indictments against Ravedran and Biu, where two US judges found for bankruptcy that the company illegally transferred $ 533 million from creditors. Legal efforts are intended to retain the Ravedran, gocculus and another company official responsible for their roles in financial differences.
“This is an action to hold three powerful executives of Byju responsible for deliberately causing the debtor (byju’s alpha) to deceive to transfer funds worth more than half a billion dollars without any consideration,” the lawsuit said on April 9, 2025.
The $ 1.2 billion -dollar non -pay -off -loan dispute, with lenders trying to repay the funds for years. Biyu is accused of fraud for transferring some of the Hedge Fund loan revenue in Miami, a move that is considered illegal by the US bankruptcy judge, Johnon Dorsey in February.
The lawsuit, filed on April 9, 2025, tried to hold three senior executives of Byju responsibility for deliberately causing the debtor (byju’s alpha) to deceive the subject of more than $ 500 million, without receiving any compensation.
“In the light of a recent court ruling, one cannot doubt that they have acted illegally and tried to cover their paths,” the lender claimed.
Byju’s has fiercely rejected claims made in a recent US lawsuit, accusing the company’s top management of embezzlement at $ 533 million. Labeling the case as “unfounded” and “frivolous”, byju claims to be an unfounded attempt by representatives of the lender to illegally gain control over the firm using what they consider to be “unfit” tactics.
In response to the lawsuit filed by lenders against its US entity Alpha AD, the company issued a strongly formulated statement, which states: “This lawsuit is just an extension of lies of votes immortalized, a representative of shameful borrowers in the United States over a long period of time.”
Court proceedings, brought by Biu’s Alpha to the US Court of Bankruptcy for Delaware County on behalf of terms lenders, comes after the February 28th verdict, which found that Ridge Ravovedran, Biu and the Croatian Fund were included in more fraudulent transfers and conversions of US $ 53 million. It has also been revealed that Ravidran violated his fiduciary duties as director of the Alpha of Byju.
Alpha on byju, a special purpose vehicle (SPV) founded in Delaware to receive $ 1.2 billion in loan, took over creditors and was put as part of Chapter 11 for bankruptcy procedures, having previously controlled $ 533 million.
Lender claims that the couple’s actions were intentional attempts to prevent repayment and filed this lawsuit as part of their ongoing efforts to repay the funds. Despite these efforts, Ravedran and his wife have repeatedly dismissed the accusations. In response, they argue that the lawsuit is a strategic trick of lender to use control over byju through suspicious means, citing: “The lender’s claims are completely unfounded and untrue.” This legal battle highlights the complexes on the financial management and operation of byju.
Byju is currently moving after bankruptcy procedures in both the United States and India. In the United States, lender are trying to liquidate domestic assets, including educational software companies acquired by Byju for $ 820 million as a means of paying off. At the same time, efforts are under way within the Indian legal framework for assessing the remaining value of the Byju enterprise, although potential yields remain uncertain.
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