US Court’s $1 billion order deepens the crisis for Byju Raveendran — and what comes next

CHENNAI: A US bankruptcy court in Delaware has issued a default judgment ordering Byju Raveendran, founder of the edtech company Byju’s, to pay a little over one billion dollars after finding that he repeatedly failed to comply with court directives in a long-running dispute with lenders. The order, which follows months of missed deadlines, unfulfilled discovery obligations and non-appearance at hearings, stems from allegations that hundreds of millions of dollars borrowed through Byju’s US entity were improperly moved out of lender control and routed through opaque structures, reports said.