Delaware Court Orders Edtech Founder to Pay $1 Billion for Failing to Meet Legal Obligations in Debt Case.
- Delaware court awarded $1.07B against Byju Raveendran for noncompliance in TLPL's $1B loan dispute involving Alpha Funds misdirection. - Judgment includes $533M principal, $540.6M penalties, and $10K/day contempt fines for refusing to disclose Camshaft LP transactions. - Raveendran's team claims denied due process, plans $2.5B counterclaims against GLAS Trust for alleged contractual and legal violations. - Case highlights cross-border governance tensions, with GLAS Trust alleging fund "roundtripping" whi
The Bankruptcy Court in Delaware has issued a default judgment of more than $1 billion against Byju Raveendran, the founder of Think & Learn Private Limited (TLPL), an edtech company,
This ruling originates from a 2021 loan deal in which TLPL obtained a $1 billion term loan from American lenders, with Alpha acting as a special-purpose entity.
The conflict has grown into a wider legal confrontation,
This legal battle underscores the challenges of cross-border corporate oversight and debt collection. GLAS Trust and Alpha allege that funds were cycled back to Raveendran’s related businesses, while Raveendran’s representatives maintain the money was used for TLPL’s business needs
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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