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US court rules Byju's parent and associated entities defrauded Alpha, causing a $533M loss.
US Bankruptcy Court has ruled that Byju's parent company Think & Learn, Riju Ravindran, and hedge fund Camshaft Capital are responsible for defrauding Byju's US entity, Alpha, and its lenders, involving a $533 million loss.
The court found multiple transfers fraudulent and that Ravindran breached his fiduciary duties.
The lenders are working to recover the funds, and damages will be determined later.
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El padre de Byju y las entidades asociadas defraudaron a Alpha, causando una pérdida de $533M.