A US bankruptcy court has imposed penalties on Riju Ravindran, a board member of Byju's and brother of the company's founder, Byju Raveendran. The court found Riju Ravindran in contempt for repeatedly refusing to disclose the location of $533 million in term loan proceeds. The court also observed that Byju Raveendran's testimony was not truthful. Lenders allege fraudulent transfers and are seeking recovery of the missing funds. Riju Ravindran was on the board of the US-based entity Byju’s Alpha. Byju's has described the court's actions as 'judicial overreach and symbolic.' This development is part of Byju's $1.2 billion saga.
🚨More trouble for Byju's | U.S. court penalises Riju Ravindran, #Byju's director & founder's brother, for contempt of court after he refused to ascertain the location of the missing $533M. @Aish_19_Anand is here with more details. https://t.co/lAg7w6YfI2
📢U.S. court penalises Riju Ravindran, #Byju's director & founder's brother, for contempt of court after he refused to ascertain the location of the missing $533M. The #edtech calls it "judicial overreach & symbolic" @Shruti_Malhotra @Aish_19_Anand https://t.co/Tk8nVwQmE1
🔴U.S. court penalises brother of #BYJUs founder for defying the court's order, as per a Bloomberg report. Riju Raveendran faces financial penalties for contempt of court. @CNBCTV18News https://t.co/0kMa93xk7W
US court finds Riju Ravindran, brother of #BYJU’S Founder, in contempt for refusing to disclose whereabouts of $533 million loan proceeds. Lenders allege fraudulent transfers, seeking recovery. by @ishansp 🔗 Read more👇 https://t.co/v3gNKCCwma.
US bankruptcy court imposes penalty on Byju’s director, says testimony ‘not truthful’ https://t.co/ElOGnmU9yd
US bankruptcy court imposes penalty on Byju’s director, says testimony ‘not truthful’ @aggam_walia reports https://t.co/F0Kzk3J8ia
#US #court judge pulls up #ByjuRavindran's #brother for not being 'truthful' on the missing $533 mn that lenders are after https://t.co/e7nG4bL40t
🚨 Byju's $1.2 bn saga: A US judge ruled that board member Riju Ravindran is in contempt of court for repeatedly refusing to disclose the location of the $533 mn in term loan proceeds. Riju is the founder’s brother and was on the board of the US-based entity Byju’s Alpha, which…
🚨BYJUS lender group says that a US bankruptcy court has imposed fine on Byju Raveendran and observed that his testimony is not truthful in case of $533 mn loan proceeds . “ Mr. Ravindran’s defense is basically ‘I asked but no one either knows, or would tell me where the money… https://t.co/bjgbnuFJMo