Byju Raveendran plans to challenge US court order with new evidence

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…