Byju Raveendran plans to challenge US court order with new evidence
November 27, 2025
Edtech firm Byju’s founder Byju Raveendran is preparing to appeal a US bankruptcy court order that directed him to pay more than $1 billion, ruling that he obstructed efforts to trace the $533 million that the edtech’s lenders alleged he had diverted from an American subsidiary. He has claimed that Glas Trust, which represents the US lenders, and Think & Learn’s resolution professional (RP), have misled the courts by alleging that the funds were diverted.
Synopsis
Edtech firm Byju’s founder Byju Raveendran is preparing to appeal a US bankruptcy court order that directed him to pay more than $1 billion, ruling that he obstructed efforts to trace the $533 million that the edtech’s lenders alleged he had diverted from an American subsidiary. He has claimed that Glas Trust, which represents the US lenders, and Think & Learn’s resolution professional (RP), have misled the courts by alleging that the funds were diverted.
Edtech firm Byju’s founder Byju Raveendran said on Thursday he will present evidence in US courts to show that the contested $533 million was not “round-tripped” but used for the expansion of parent company Think & Learn.
Raveendran is preparing to appeal a US bankruptcy court order that directed him to pay more than $1 billion, ruling that he obstructed efforts to trace the $533 million that the edtech’s lenders alleged he had diverted from an American subsidiary.
The court ruled that Raveendran had ignored its orders and failed to participate in the proceedings, after a group of lenders who had given a $1.2 billion term loan to the subsidiary, Byju’s Alpha, filed a motion for default against him on August 11.
Raveendran has claimed that Glas Trust, which represents the US lenders, and Think & Learn’s resolution professional (RP), have misled the courts by alleging that the funds were diverted.
According to him, Glas Trust knew how the money had been used, as its lawyers had accessed this information in other legal proceedings.
The new evidence which Raveendran plans to place before the court consists of bank statements, emails, intermediary (money) transfer trails, and documentary admissions obtained by Glas Trust. The same evidence will be later shared with the Indian courts.
“The funds were used for the benefit of Think & Learn and our expansion. It is simply outrageous that I have been attacked in this manner and, more importantly, that Byju’s’ customers and employees have been impacted by this attack based on pure greed of these lenders and Glas Trust,” Raveendran said in a statement.
Earlier, Byju’s Alpha was accused of round-tripping $533 million from the $1.2 billion loan through a London-based company, OCI Limited, as per a filing made with the bankruptcy court.
“The claims of the Think & Learn RP against the suspended directors in relation to the monies are unfounded as the monies from the US Loan were invested in Think & Learn shares in compliance with all relevant Indian laws,” Raveendran said in a release.
The legal team has said that it plans to file lawsuits for defamation and damages worth more than $2.5 billion within the next 30 days against Glas Trust, the RP, and other entities and individuals involved in the matter.
(Catch all the Technology News News, and Latest News Updates on The Economic Times.)
...more
Edtech firm Byju’s founder Byju Raveendran is preparing to appeal a US bankruptcy court order that directed him to pay more than $1 billion, ruling that he obstructed efforts to trace the $533 million that the edtech’s lenders alleged he had diverted from an American subsidiary. He has claimed that Glas Trust, which represents the US lenders, and Think & Learn’s resolution professional (RP), have misled the courts by alleging that the funds were diverted.
Edtech firm Byju’s founder Byju Raveendran said on Thursday he will present evidence in US courts to show that the contested $533 million was not “round-tripped” but used for the expansion of parent company Think & Learn.
Raveendran is preparing to appeal a US bankruptcy court order that directed him to pay more than $1 billion, ruling that he obstructed efforts to trace the $533 million that the edtech’s lenders alleged he had diverted from an American subsidiary.
The court ruled that Raveendran had ignored its orders and failed to participate in the proceedings, after a group of lenders who had given a $1.2 billion term loan to the subsidiary, Byju’s Alpha, filed a motion for default against him on August 11.
Raveendran has claimed that Glas Trust, which represents the US lenders, and Think & Learn’s resolution professional (RP), have misled the courts by alleging that the funds were diverted.
According to him, Glas Trust knew how the money had been used, as its lawyers had accessed this information in other legal proceedings.
The new evidence which Raveendran plans to place before the court consists of bank statements, emails, intermediary (money) transfer trails, and documentary admissions obtained by Glas Trust. The same evidence will be later shared with the Indian courts.
“The funds were used for the benefit of Think & Learn and our expansion. It is simply outrageous that I have been attacked in this manner and, more importantly, that Byju’s’ customers and employees have been impacted by this attack based on pure greed of these lenders and Glas Trust,” Raveendran said in a statement.
Earlier, Byju’s Alpha was accused of round-tripping $533 million from the $1.2 billion loan through a London-based company, OCI Limited, as per a filing made with the bankruptcy court.
“The claims of the Think & Learn RP against the suspended directors in relation to the monies are unfounded as the monies from the US Loan were invested in Think & Learn shares in compliance with all relevant Indian laws,” Raveendran said in a release.
The legal team has said that it plans to file lawsuits for defamation and damages worth more than $2.5 billion within the next 30 days against Glas Trust, the RP, and other entities and individuals involved in the matter.
(Catch all the Technology News News, and Latest News Updates on The Economic Times.)
...more