What's the story

A recent filing in the Delaware Bankruptcy Court has alleged that $533 million is missing from BYJU'S Alpha , an entity now controlled by BYJU'S Term Loan B lenders. The document claims that the money was "in effect, roundtripped right back to Byju Raveendran and his affiliates." The allegation comes as BYJU'S Alpha seeks approval of a settlement with OCI Limited, a UK-based procurement firm that received most of the disputed funds.

Settlement specifics

Settlement details and allegations of misuse

As part of the settlement with OCI Limited, its founder Oliver Chapman submitted a sworn declaration detailing what happened to the Alpha Funds after OCI received them. The filing alleges that these funds weren't used for "legitimate commercial purposes" or to procure goods

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