Legal
Judge Says Byju’s Manager ‘Not Truthful’ on Missing $533 Million
- US judge rules brother of Byju’s founder defied court order
- Riju Ravindran faces financial penalties for contempt of court
The decision was a symbolic victory for lenders and likely puts some pressure on Ravindran to cooperate in order to avoid financial penalties.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
A director of Indian tech firm Think & Learn Pvt faces financial penalties for defying a US judge’s order to find out where the troubled company stashed $533 million that jilted lenders say should go to them.
Riju Ravindran, the brother of company founder Byju Raveendran, not only failed to make a serious effort to find out what happened to the cash, but deceived the court, US Bankruptcy Judge John Dorsey said during a hearing Tuesday in Wilmington, Delaware.