Overview
- HPS Investment Partners and other U.S. lenders filed an August lawsuit saying Brahmbhatt-linked firms owe more than $500 million.
- The complaint alleges fabricated accounts receivable, emails from look‑alike domains impersonating telecom clients, and transfers of pledged assets to India and Mauritius.
- HPS began lending in 2020 and expanded exposure through 2024, with BNP Paribas reportedly financing nearly half the loans across two HPS funds.
- Broadband Telecom, Bridgevoice and affiliated vehicles entered Chapter 11 in August, and Brahmbhatt filed personal bankruptcy on August 12; additional financing entities joined bankruptcy court last week.
- Brahmbhatt denies wrongdoing, his New York offices were found locked, and people familiar with the matter say lenders believe he is now in India.