BYJU’S Alpha Sues Byju Raveendran Over Alleged ‘Misappropriation’ Of $533 Mn

BYJU’S Alpha, the US-based special purpose finance vehicle of BYJU’S, has sued the edtech startup’s founder Byju Raveendran, his wife and cofounder Divya Gokulnath and advisor Anita Kishore for allegedly ‘misappropriating’ $533 Mn in funds.

The lawsuit alleged that the three orchestrated and executed a lawless scheme to conceal and steal $533 Mn of loan proceeds.

This comes after the US bankruptcy Delaware court ruled in favour of the lenders of BYJU’S for fraudulent transfer of $533 Mn out of the $1.2 Bn term loan B extended to…