Byju Raveendran asked to pay over $1 billion in BYJU’s Alpha case, disclose where funds go

A US court issued a default judgment holding Byju Raveendran personally liable for repayments of over $1 billion, based on a petition filed by BYJU’s Alpha and US-based lender GLAS Trust Company LLC, PTI reported.

Referring to the decision made on November 20, the report stated that the Delaware Bankruptcy Court found that Raveendran did not comply with the discovery order and continued to act evasive many times.

“The Court will enter a judgment of default against Defendant Raveendran in the amount of US$533,000,000 and US$540,647,109.29 for Counts II, V and VI,” the decision read. The statement was included.

The decision required Raveendran to provide a full and accurate account of relevant income, such as the Alpha Funds and the Camshaft LP Share, including all subsequent transfers and resulting income.

BYJU’s Alpha was founded when Raveendran was running education technology company Think and Learn Private Limited (TLPL), operating under the Byju brand.

(This is a developing story…)