Byju’s Alpha Accused of Hiding $500 Million From Lenders
- Byju’s Alpha fighting lenders for control of company in court
- Company attorney says money transfer was allowed by loan deal
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Lenders accused one of India’s hottest tech companies, Byju’s Alpha, of hiding $500 million as part of a fight between creditors and the self-proclaimed biggest education technology company in the world.
The allegation came out at a court hearing on Thursday in Delaware, where Byju’s Alpha faces a lawsuit over who should control the company. Lenders claim that because of a default earlier this year, they have the right to put their representative, Timothy R. Pohl, in charge.