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Adding another chapter in BYJU’S long legal battle, the Delaware Bankruptcy Court in the US has entered a default judgment, asking the beleaguered startup’s cofounder Byju Raveendran to pay $1.07 Bn.
The ruling, dated November 20, came on the back of Raveendran failing to comply with discovery and court orders in the case for alleged misappropriation of $533 Mn the edtech startup’s US subsidiary, BYJU’S Alpha.
The court ordered Raveendran to pay $533 Mn in damages for what the court determined to be fraudulent transfer of BYJU’S Alpha funds in 2022, along with another $540.6 Mn linked to the transfer of the debtor’s interest in Camshaft Capital Fund, a US-based hedge fund.
The cofounder was also asked by Judge Brendan Shannon to provide a comprehensive, accurate accounting of all Alpha Funds and associated proceeds.
Responding to the order, Raveendran, in a statement, said that the court “prematurely” issued the judgement despite lender GLAS Trust withdrawing the claim for damages in September 2025.
“This judgement is a result of an expedited court procedure resulting from a gross misleading of the court by GLAS. Byju Raveendran will present evidence of such misrepresentation in the previously announced claim of not less than $2.5 Bn which will be submitted shortly before the US Courts,” the statement added.
(The story will be updated soon)
The post BYJU’S Saga: US Court Orders Byju Raveendran To Pay $1.07 Bn appeared first on Inc42 Media.
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