A US bankruptcy court has instructed Byju Raveendran, founder of Byju’s, to pay more than $1 billion after finding him in default for not complying with court orders in a case involving alleged diversion of funds. The judgement comes as part of ongoing legal proceedings brought by lenders, who have accused Raveendran and Byju’s Alpha of improper handling of $533 million from a $1.2 billion loan. The court’s decision requires Raveendran to provide a full account of the transferred funds, with the order described as extraordinary due to the unique circumstances of the case. Advertisement

Byju’s Alpha, the entity at the centre of the allegations, has faced scrutiny following claims that $533 million was round tripped through OCI Limited. The filing with the Delaware Bankruptcy Court asserts

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