Overview
- U.S. Bankruptcy Judge Brendan Shannon entered the Nov. 20 default after finding Raveendran ignored expedited discovery orders and directed a comprehensive accounting of the disputed funds.
- The award totals about $1.073 billion: $533 million linked to 2022 transfers and $540,647,109.29 tied to the 2023 movement of the Camshaft LP interest.
- The court calculated monetary relief from the existing record, relying in part on a court‑appointed director’s declaration, and did not hold a separate damages hearing.
- Contempt sanctions of $10,000 per day remain unpaid, and the judge rejected claims that lenders already had the documents through BYJU’S Alpha’s records.
- Raveendran denies wrongdoing, says he will appeal, accuses GLAS Trust of misleading the court, and plans counterclaims seeking at least $2.5 billion.