<ul><li>BYJU’S Alpha, the US-based special purpose finance vehicle of BYJU’S, has sued the edtech startup’s founder Byju Raveendran, his wife and cofounder Divya Gokulnath and advisor Anita Kishore for allegedly ‘misappropriating’ $533 Mn in funds.</li><li>The lawsuit alleged that the three orchestrated and executed a lawless scheme to conceal and steal $533 Mn of loan proceeds.</li><li>This comes after the US bankruptcy Delaware court ruled in favour of the lenders of BYJU’S for fraudulent transfer of $533 Mn out of the $1.2 Bn term loan B extended to the startup.</li><li>The Lenders of BYJU’s Alpha’s Term Loans stated that Byju, Divya, and Anita deliberately hid the assets of BYJU’s Alpha and repeatedly were deceptive about the location of the money to steal funds rightfully owed to the Lenders.</li></ul>

BYJU’S Alpha Sues Byju Raveendran Over Alleged ‘Misappropriation’ Of $533 Mn

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