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1h ago

Delaware Court Enters $1.07 Billion Default Judgment Against BYJU’S Founder Byju Raveendran

The judge imposed the remedy after finding willful noncompliance with discovery in the case over transfers from BYJU’S Alpha.

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

  • The order awards $533 million tied to the 2022 transfer of the Alpha Funds and $540,647,109.29 on related claims connected to the Camshaft LP interest.
  • Raveendran must provide a full and accurate accounting of the Alpha Funds, subsequent transfers, and any proceeds.
  • The court had already held him in civil contempt and set $10,000‑per‑day sanctions that remain unpaid, citing a strategic pattern of noncompliance.
  • The action was brought by BYJU’S Alpha’s bankruptcy estate and loan agent GLAS Trust on behalf of term‑loan lenders to trace roughly $533 million moved through entities including Camshaft and OCI.
  • BYJU’S founders deny the allegations, call the ruling premature, and say they will appeal as estate filings, including a sworn declaration from OCI’s Oliver Chapman, outline the alleged routing of the funds.