A US bankruptcy court has ordered Byju’s founder Byju Raveendran to pay over $1.07 billion, holding him personally liable for the movement and concealment of funds from Byju’s Alpha, the company’s US-based financing arm.

The default judgment, issued by Judge Brendan Shannon of the Delaware Bankruptcy Court, follows Raveendran’s repeated failure to comply with directions to appear before the court and provide documents, according to multiple media reports.

A default judgment is a ruling issued when a party does not participate in the litigation or ignores court orders, allowing the court to decide the case without a trial.

Meanwhile, Byju Raveendran denied all allegations and informed that he will appeal the US court judgment. Raveendra said that the US Court default judgment was issued

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