US court finds Riju Ravindran, Camshaft, Think & Learn guilty of fraud

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US court finds Riju Ravindran, Camshaft, Think & Learn guilty of fraud - Business Standard

Quick Summary:

Think & Learn Pvt Ltd (Byju's) unlawfully orchestrated and benefited from a fraudulent scheme.

In making its ruling, the court confirmed that multiple transfers of funds from Byju’s Alpha constituted actual fraudulent transfers and conversion (i.e., theft).

The judge said T&L (on whose board Ravindran sat) actively misled the Lenders into believing that the funds remained in the Debtor’s bank accounts in cash or cash equivalents.