Byju’s US Units Wrongly Stripped of Education App, Judge Rules
- “Rogue officer” transferred app that earns $1 million a month
- Action is latest scuffle between lenders, Indian software firm
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Two money-making education apps that are part of the troubled Byju’s software empire were wrongly transferred away from US lenders and must be returned to a court-supervised bankruptcy trustee, a federal judge ruled Tuesday.
A “rogue officer” manipulated Apple Inc. into changing the ownership — and the revenue stream — of two apps that bring in about $1 million a month, according to the trustee, who controls three of Byju’s US units.