Byju Raveendran to appeal $1.07 billion US default judgment in Byju’s Alpha case

Byju’s founder Byju Raveendran said on November 22 that he will appeal a default judgment by a US bankruptcy court that ordered him to pay over $1.07 billion in a dispute linked to Byju’s Alpha, the company’s US-based financing arm.

What the US court ordered

The Delaware Bankruptcy Court issued the default judgment holding Raveendran personally liable for the movement and concealment of funds from Byju’s Alpha.

The judgment followed Raveendran’s repeated failure to comply with court directions to appear and provide documents, media reports said.

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

Raveendran’s response

In a public press release issued from Paris on November 22, Raveendr