Byju's US Lenders Sue Founder, Wife, Top Aide Over Missing Cash
American lenders sued controversial Indian tech entrepreneur Byju Raveendran and his wife in a US bankruptcy court, seeking to hold them personally responsible for more than $500 million in missing loan proceeds.
In a complaint filed Wednesday in Wilmington, Delaware, the lenders repeated many of their previous allegations against Raveendran and the bankrupt education-tech company he founded in India. Two US bankruptcy judges have largely sided with the lenders, finding recently that Raveendran's brother and the company, Think & Learn, better known simply as Byju's, violated their fiduciary duties by wrongly transferring $533 million away from creditors.
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