Byju's Alpha sues Raveendran over alleged misappropriation of $533 mn

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Byju's Alpha sues Raveendran over alleged misappropriation of $533 mn - Business Standard

Quick Summary:

In April, the lenders said Byju’s allegedly began the first in a series of systematic and unlawful fraudulent transfers of the Alpha Funds.

In its lawsuit, Byju’s Alpha is seeking damages for Byju’s breach of fiduciary duties, as well as damages for the actions of Byju, Divya, and Anita in aiding and abetting the breach of others’ fiduciary duties.

On March 15, 2024, Byju’s issued a statement in response to a preliminary injunction ordered by the Delaware Bankruptcy Court whereby the Court froze the Alpha Funds – preventing their further use or movement.