Byju’s ex-director fined $10,000 per day over missing $533 million

A suspended director of the troubled Indian educational tech firm Byju’s must pay $10,000 a day until he helps locate $533 million that his company is accused of hiding from US lenders, a judge said Wednesday.

Riju Ravindran, brother of Byju’s founder, has been at the center of a nearly two-year-old fight over the missing cash, which lenders say should be returned to them after the company defaulted. Ravindran is one of three directors of Think & Learn Pvt. — which operates the Byju’s brand — who were recently replaced by a trustee as part of an involuntary bankruptcy case filed in India, according to US court documents.