US court orders Byju's to freeze $533m owed to lenders after co-founders accused of transferring funds to offshore trust.

A US court has ordered Indian edtech firm Byju's to freeze $533m owed to lenders, after the company's co-founders, Byju Raveendran and Divya Gokulnath, were accused of transferring the funds to an unnamed offshore trust. The court also found that Raveendran and Gokulnath were working in concert with the defendants and ordered them to comply with its ruling.

March 14, 2024
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