BYJU's founders preparing to file over USD 2.5-billion suit against Glas Trust, others
The founders are preparing to sue Glas Trust and others in India as well as in foreign countries, according to the statement.
New Delhi, Jul 17 (PTI) Beleaguered edtech firm BYJU's founders, Byju Raveendran and Divya Gokulnath, are gearing up to file an over USD 2.5 billion suit against Glas Trust and others for damage to their reputation and business, a statement from their counsel said on Thursday.
The counsel said claims have already been raised in India against Glas Trust, the former subsidiary of Think & Learn, that Glas Trust now claims to control and other parties.
'Additional claims are being prepared against those parties in other jurisdictions. Such claims to be issued by all or some of BYJU's founders are expected to request monetary damages of not less than USD 2.5 billion,' McNutt said.
At present, Think and Learn – which owns BYJU's brand, is going through insolvency proceedings initiated following an appeal filed by US-based lenders agent Glas Trust. PTI PRS CS HVA
This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
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