Kerala Police file case against GLAS Trust over fake letter
Kerala Police have registered a case against GLAS Trust Company LLC, accusing it of using a fake lender-authorization letter in BYJU'S ongoing insolvency process.
The complaint, filed by Rajendran Vellappalath, managing director of Voizzit Technology Private Limited, claims the letter helped GLAS Trust influence nearly all creditor votes on a massive ₹11,432.98 crore claim.
GLAS support could drop to 42%
The letter in question allegedly reused old signature pages with changed dates and lender names.
If these disputed signatures are thrown out, GLAS Trust's support among lenders could drop sharply, from 95% to just 42%.
The case is now under sections for cheating, forgery, use of a forged document and criminal conspiracy, and the petitioners have sought examination of the original electronic files alongside the earlier documents to establish the disputed letter's authenticity.
BYJU'S insolvency over 158.9cr BCCI dues
BYJU'S has been facing major money problems for a while, and entered insolvency proceedings in July 2024 over unpaid BCCI sponsorship dues of ₹158.9 crore.
The company entered insolvency proceedings in July 2024 over unpaid BCCI sponsorship dues of ₹158.9 crore.