Byju’s case: Delaware court finds Riju Ravindran and others responsible for defrauding lenders

BENGALURU: The Delaware Bankruptcy Court has issued a summary judgment in favour of lenders and against Riju Ravindran (brother of Byju Raveendran, founder of the embattled education firm Byju’s), Camshaft Capital Fund, and its affiliates, and Think & Learn. This is pertaining to term loan money amounting to $533 million.

The lenders of the $1.5 billion Term Loan B to Byju’s Alpha, a Delaware special purpose financing vehicle established by edtech firm Byju’s to receive proceeds of the term loans, in a statement said,