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BYJU’S RP Sues Former Directors Over Alleged Transfer Of Company Assets
- BYJU’S RP has filed a lawsuit against former directors for alleged transfer of company assets.
- The lawsuit at NCLT named Byju Raveendran, Riju Ravindran, Divya Gokulnath, and Jiney Thathil.
- RP demands compensation for fraudulent transfers totaling $533 Mn and INR 130 Cr.
- BYJU’S founders refute allegations, calling them baseless.
- Next hearing scheduled for July 9 regarding the lawsuit.
- ICAI to resume probe on financial statement lapses at BYJU’S.
- Four new benches constituted by ICAI to investigate the matter.
- Investigation found negligence by BYJU’S auditors and gross negligence on accounting practices.
- Ajmera appointed as RP of BYJU in March replacing former RP Pankaj Srivastava.
- Lenders requested Srivastava's removal as RP for not involving them in the creditors' committee.
- Allegations of 'criminal collusion' raised by BYJU’S founders against EY, RP, and lenders.
- US Insolvency Court ruled in favor of lenders in BYJU’S Alpha case involving a fraudulent transfer of $533 Mn.
- BYJU’S RP lawsuit reflects ongoing legal and financial challenges faced by the edtech firm.
- The case continues to unfold amidst allegations and legal proceedings.
- The complex situation highlights the intricacies of corporate governance and financial oversight.
- BYJU’S and its stakeholders are navigating a tumultuous period of legal scrutiny and investigations.
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