Page 2 - Latest Updates on Byju Raveendran
NCLAT sets aside BCCI and Riju Raveendran's plea on Byju's settlement
A two-member Chennai bench of the NCLAT comprising Justice Rakesh Kumar Jain and Jatindranath Swain upheld the directions passed by the NCLT
 "NCLAT sets aside BCCI and Riju Raveendran's plea on Byju's settlement")
Lenders to SPV in Delaware sue Byju Raveendran for 'stealing' $533 mn
Edtech pioneer, wife and close business associate accused of 'masterminding theft of more than half a billion dollars'
 "Lenders to SPV in Delaware sue Byju Raveendran for 'stealing' $533 mn")
US lender trustee Glas Trust denies allegations by Byju Raveendran
Glas would take all necessary actions to hold Byju Raveendran and his associates accountable for the harm caused to lenders and thousands of T&L customers, says spokesperson
 "US lender trustee Glas Trust denies allegations by Byju Raveendran")
Byju Raveendran files FIR against former Byju's RPs, EY, and Glas Trust
Valued at $22 billion in 2022, Byju's has seen its fortunes almost wiped out due to a massive cash crunch, regulatory issues and disputes with investors
 "Byju Raveendran files FIR against former Byju's RPs, EY, and Glas Trust")
'Will rise again': Byju Raveendran promises comeback and company relaunch
Raveendran joined X on Friday to reveal the "truth" about the company and the events of the past two years
 "'Will rise again': Byju Raveendran promises comeback and company relaunch")
Was pressured to select process advisor, alleges Byju's former IRP
Khaitan & Co, EY refute allegations
 "Was pressured to select process advisor, alleges Byju's former IRP")
Will Byju's employees ever get their unpaid salaries? What CEO has to say
Byju CEO Byju Raveendran assures unpaid employees that salaries will be cleared 'not immediately, but eventually', as staff struggle with three months of unpaid wages and financial uncertainty
 "Will Byju's employees ever get their unpaid salaries? What CEO has to say")
Legal net tightens around Byju Raveendran after US court ruling on fraud
Raveendran has called for an investigation into what he alleged is a "criminal collusion" between accounting firm EY India, GLAS Trust which represents US lenders, and the IRP
Byju Raveendran faces legal risks after US court ruling on fund fraud
Lenders may argue that as the ultimate decision-maker, Raveendran had knowledge of or actively participated in the diversion of funds, potentially justifying a 'corporate veil-piercing' claim
 "Byju Raveendran faces legal risks after US court ruling on fund fraud")
Judge says Byju's official broke duty to lenders by hiding $533 million
Byju's fraudulently transferred at least part of the money to a small hedge fund based in Miami to keep it out of lenders' hands, US Bankruptcy Judge John Dorsey also ruled
 "Judge says Byju's official broke duty to lenders by hiding $533 million")
Byju Raveendran accuses IRP, EY India, Glas Trust of criminal collusion
Raveendran alleges he and employees received proof of criminal collusion involving EY India, GLAS Trust, and the IRP, urging authorities to investigate the evidence
Settlement with BCCI outside lenders' scrutiny, Byju's Raveendran to NCLAT
Riju, the younger brother of founder Byju Raveendran, told the appellate tribunal that the settlement with BCCI had been finalised before the committee of creditors (CoC) was formed
Not given a fair hearing by NCLT: Former Byju's resolution professional
Srivastava told the NCLAT that the NCLT, Bengaluru, did not hear him in the absence of his lawyers and that the disciplinary action initiated against him was unfair
 "Not given a fair hearing by NCLT: Former Byju's resolution professional")
Riju Raveendran moves NCLAT against decision to reinstate 2 Byju's lenders
Riju, who is the brother of founder Byju Raveendran, has challenged a January 29 order of the National Company Law Tribunal (NCLT)
Cash-strapped Byju's executive, biz partner found in contempt of US court
Byju's manager Vinay Ravindra and company ally Rajendran Vellapalath failed to answer questions about their roles in stripping software, cash and other assets from Byju's US businesses
 "Cash-strapped Byju's executive, biz partner found in contempt of US court")
Downfall of Byju's, India's hot edutech startup, wipes out US debtholders
Recoveries will need to come from how Indian courts rule on the company's broader insolvency plan and how it aims to repay creditors; it's unclear how much, may be available to those in US
Don't want to go Byju's way: Aakash Educational Services to NCLAT
NCLAT refuses to set aside order halting move to amend AoA
 "Don't want to go Byju's way: Aakash Educational Services to NCLAT")
Byju's insolvency: Riju Raveendran moves NCLT seeking inclusion in case
Byju's US-based lenders had opposed the settlement, claiming that the money used to repay BCCI was tainted as it was part of the $533 million that had allegedly gone "missing"
Trouble mounts for Byju's as firm faces new probe over financial practices
The federal government has asked the regional office of the Registrar of Companies in Hyderabad to investigate Byju's books to ascertain if the company misreported financial statements
Byju's founder told ally to flee US to avoid testifying against him
William R Hailer said Raveendran sent him a plane ticket to Dubai just two days before Hailer was set to testify about Raveedran's efforts to regain control of parts of the Byju's education empire
