Byju’s US lenders seek to block payment to BCCI, want their money first

American lenders are seeking to freeze the assets of a suspended director of the troubled Indian educational tech firm Byju’s, arguing his cash should be used to pay them, not debt owed to India’s governing board for cricket.

GLAS Trust Company, the trustee for lenders owed $1.2 billion, asked a US bankruptcy judge to block Riju Ravindran, brother of Byju’s founder, from paying the cricket board more than $19 million in order to clear an insolvency case in front of a judicial tribunal in India.