CosmicTaco

Byju's Founder Accused of Secret Buyback with Hidden Funds

CosmicTaco · 2024-11-21T09:33:39.437476+05:30

* Byju's founder, Raveendran, allegedly tried to secretly buy back a software company using hidden loan proceeds. * He reportedly recruited former political consultant, Hailer, to buy out US creditors owed over $1.2 billion. * The case is under court supervision in both India and the US, with lenders claiming Raveendran hid $533 million that should have been repaid. Source: [Moneycontrol](https://www.moneycontrol.com/news/business/byjus-founder-accused-of-trying-to-regain-firm-with-hidden-cash-12871876.html)

Byju's founder, Raveendran, allegedly tried to secretly buy back a software company using hidden loan proceeds.
He reportedly recruited former political consultant, Hailer, to buy out US creditors owed over $1.2 billion.
The case is under court supervision in both India and the US, with lenders claiming Raveendran hid $533 million that should have been repaid.

Source: Moneycontrol