https://indiawest.com/us-court-freezes-byjus-533-million-owed-to-lenders/
NEW YORK, NY (IANS) – The steering committee representing term-loan lenders of Byju’s $1.2 billion loan on March 15 said that a US judge has ordered to prohibit further movement or use of $533 million by the edtech company, which is owed to lenders.
According to the steering committee’s statement, the company’s co-founders Byju Raveendran and Divya Gokulnath are prohibited by the judge from further transferring or using any of the $533 million in loan proceeds previously held by Camshaft Capital Fund, and subsequently transferred to an unnamed and unknown offshore trust.
The court also found that Raveendran and Gokulnath “are working in concert with the defendants and ordered them to comply with its ruling”.
