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2h ago

Delaware Court Enters $1.07 Billion Default Judgment Against Byju Raveendran

The judge cited willful discovery non‑compliance, ordering a full accounting of the disputed $533 million.

Byju Raveendran
Byju's, worth USD 22 billion, has faced a substantial downturn due to financial challenges, regulatory hurdles, and legal disputes.
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Overview

  • Judge Brendan Linehan Shannon issued the November 20 ruling in the BYJU'S Alpha bankruptcy case in Delaware.
  • The court awarded $533 million tied to a 2022 transfer and $540.6 million related to a 2023 Camshaft transaction.
  • Raveendran was directed to deliver a full and accurate accounting of the Alpha Funds and to submit a proposed judgment within seven days.
  • The decision follows prior civil contempt findings and unpaid $10,000‑per‑day sanctions, with the court calling the remedy extraordinary.
  • BYJU'S Alpha and GLAS Trust brought the petition; filings allege round‑tripping via OCI and Camshaft based on Oliver Chapman’s declaration, which the founders categorically deny as Indian insolvency and asset‑sale proceedings continue.