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US court holds BYJU'S founder in contempt
BYJU Raveendran, founder of the popular edtech company BYJU'S, has been found in contempt by a US Bankruptcy Court.
The court says he ignored orders to share important documents in an ongoing bankruptcy case tied to BYJU'S US branch.
Now, he's facing a $10,000 daily fine until he cooperates.
Raveendran skipped deadlines, say lenders
Raveendran is accused of skipping deadlines and not handing over key info—lenders even claim he and his team hid or misused $533 million meant for BYJU'S Alpha (their US arm).
Meanwhile, Raveendran blames travel restrictions and ongoing legal battles in India and Dubai for missing US hearings.
In India, he and his brother are also fighting off efforts from creditors and have been accused in another case.