US court orders Byju Raveendran to pay over $1 bn in Alpha-GLAS Trust case

Byju Raveendran plans to appeal US court's expedited default judgment, denies all allegations, and says GLAS Trust misled both Delaware court and public while blocking his ability to present a defence

A US court, in a default judgment, has held Byju Raveendran personally liable for paying back more than $1 billion after Byju’s Alpha and US lender GLAS Trust Company LLC sought repayment through a petition, PTI reported.

 

In a November 20, 2025 ruling, the Delaware Bankruptcy Court said Raveendran failed to comply with a discovery order and had been evasive on multiple occasions.

 

"The court will enter default judgment against Defendant Raveendran...in the amount of $533,000,000, and on Counts II, V and VI in the amount of $540,647,109.29," the PTI report quoted the judgement.

 

The judgment directed Raveendran to provide a full and accurate accounting of the Alpha Funds and any proceeds thereof, such as the Camshaft LP Interest, including each and every subsequent transfer and any proceeds thereof, according to the PTI report.

Byju Raveendran to contest the judgment

This court judgement and related orders will be appealed promptly by Raveendran, according to his legal counsel.

 

“We consider that the US Court erred in its judgment of this matter and will be filing the necessary appeals and other contestations related to this judgment and related Orders. The court in our view ignored relevant facts. Byju Raveendran must be allowed to present a defence and has been denied the right to do so by expediting the trial. The judgement is a default judgment meaning that the court issued this judgement without Byju (Raveendran) being permitted to present a defence and instead deprived Byju (Raveendran) of the presentation of a defence by relying on its prior Order of Contempt. The Delaware Court Judgement also does not address the fact that GLAS Trust has been aware that the monies from the Alpha loans were not used by Byju Raveendran or any founder of Byju’s (edtech company) for their personal gain but were used for the benefit of Think & Learn Private Limited (TLPL),” said J Michael McNutt, senior litigation advisor, Lazareff Le Bars Eurl, in a statement. 

 

McNutt also said that Byju Raveendran has always respected the court process. 

 

“In contrast, GLAS and others have not properly informed the court in our view and have attempted to expedite this and other court procedures to obscure the fact that Byju Raveendran has not willfully violated any law and including any contract in this matter.

 

“GLAS Trust controls Think & Learn Private Limited and the Resolution Professional of TLPL should be confronted and held responsible to explain the use of these funds. Applications are pending before the courts in India to require such disclosure and accountability by GLAS Trust and the Resolution Professional of TLPL,” said McNutt. 

 

“Claims are being prepared against GLAS Trust and others in other jurisdictions. Such claims to be issued by all or some of Byju’s Founders are expected to demand monetary damages of not less than $2.5 billion and absent a settlement are expected to be filed with the relevant Court prior to the end of 2025,” he said.

Byju’s Alpha-Glas Trust case

Byju’s Alpha was incorporated in Delaware in 2021 as a special-purpose vehicle created to raise and manage the company’s $1.2 billion term loan from a consortium of global lenders. 

 

The lenders later took control of Byju’s Alpha. Both Byju’s Alpha and Glas Trust moved the Delaware Bankruptcy Court for the discovery of $533 million and related transactions. 

 

In a  fresh filing in the Delaware Bankruptcy Court, they alleged that $533 million was missing from Byju’s Alpha was effectively “roundtripped right back to Byju Raveendran and his affiliates,” a claim strongly rejected by the founders of TLPL, including Raveendran.