Byju’s Alpha sues parent company Byju Raveendran and other executives for allegedly stealing $533 million, fraud – Details
Byju’s Alpha Inc., India’s Ed-tech Unicorn Byju’s special-purpose financial instrument, sued its parent company, his wife Divya Gokulnath, Riju Ravindran brothers Byju Raveendran and Consigliere Anita Kishore, for alleging $533 million in issuing $533 million in officials.
The case filed in the U.S. Bankruptcy Court in Delaware, accusing the defendants of “planning $533 million in the theft case”transparent In “A spoofing network designed and executed for fraudulent lenders.”
The lawsuit accused Byju, along with Divya Gokulnath, Riju Ravindran and Anita Kishore “fraudully transferred loan income, misrepresented financial information, and prevented lenders from exercising relief measures.”
Livemint has responded to Byju’s allegations. This copy will be updated after the statement is established.
Byju’s Alpha Appeals for Litigation Allegations of Fraud against Byju: Details
According to Alpha, BYJU built SPV to earn a $1.5 billion term loan (aka Alpha Funds). Its lawsuit Alfa said that the bankruptcy court in the U.S. Delaware District ruled that parent companies Byju and Byju Raveendran ruled in a $533 million theft.
What is the charge? According to Alpha’s lawsuit, the designated parties allegedly “co-planned and executed a legal plan to cover up and steal $533 million in loan proceeds.” It claims executives “deliberately hide” assets belonging to Alpha and “repeatedly cheated” about the location of the money in order to steal funds attributed to lenders.”
In the lawsuit, Alpha is seeking:
