Byju's under scrutiny for allegedly diverting funds from its US affiliates in breach of bankruptcy rules.

Byju Raveendran's company, Byju's, is under scrutiny for allegedly diverting funds from its US affiliates in breach of bankruptcy rules, as highlighted in a Delaware federal lawsuit. The court-appointed trustee claims nearly $700,000 intended for creditors was funneled to Whitehat Education Technology. The case is part of a larger conflict with lenders owed over $1.2 billion, who allege $533 million was improperly moved, leading to ongoing bankruptcy proceedings in the US and India.

October 08, 2024
13 Articles

Further Reading