Byju Ravindran claims clinching evidence that proves lenders misled on USD 533 million claim

New Delhi [India], November 28 (ANI): Edutech founder Byju Raveendran has claimed that he will submit clinching evidence before the US Courts, proving that GLAS Trust and the Resolution Professional (RP) repeatedly misled the Delaware Court, Indian & other Courts, and the public by falsely alleging that USD 533 million ("Alpha Funds") was diverted by the Founders.
This evidence he claimed, will be submitted as a part of a full appeal against the entire order of Delaware Insolvency Court of November 20, 2025 and as part of the claim to be filed against relevant parties previously announced with a value of over $2.5 billion.
Additionally, Byju Raveendran has separately filed a motion in the Delaware Bankruptcy Court to correct what he says is the Court's premature damages judgement. This Motion, the edutech founder claims, establishes that the damages ruling was premature and issued without any debate on the value and GLAS TRUST withdrew its request for a determination of damages at the end of September prior to the public hearing.
According to a statement from the Edutech founder, the Court appears to have inadvertently included a damages award when determining to sanction Byju Raveendran in its default judgment rendered merely as a sanction for failing to provide documents and information on an expedited basis. He further claimed that the Court determined no liability on the merits of any of the claims of GLAS Trust and Byju Raveendran provided no defense against those claims.
A statement from the edutech founder also claims that a review of information in the possession of GLAS Trust since at least April 2025 indicates that the monies lent to Alpha (and sent by OCI to companies owned by Byju Raveendran) were indeed invested in Think & Learn as Byju Raveendran has claimed all along.
This new evidence he claims, includes bank statements, emails, intermediary transfer trails, and documentary admissions obtained by GLAS and in the possession of GLAS in response to subpoenas and other evidence in US Court proceedings and not transparently disclosed to the Court, Byju Raveendran or the public.
Sharing this evidence with the media, Byju Raveendran said, "For two years, GLAS Trust has attacked my integrity and the other Founders by repeating a story they knew was false. Today, their own documents expose the truth. The funds were used for the benefit of Think & Learn and our impressive expansion. It is simply outrageous that I have been attacked in this manner and more importantly that BYJU's customers and employees have been impacted by this attack based on pure greed of these Lenders and GLAS Trust. These parties will now be brought before the Courts and be required to answer some very tough questions. I wish I could say more but have been advised to limit my comments due to the litigation that I and the other Founders will file in the very near future against these parties."
A litigation advisor for Byju Raveendran added, "Since early June of this year, the Delaware Court has been advised that GLAS Trust was misleading the Court in its submissions by claiming that it did not know how the Alpha Loan proceeds were used. These same allegations have been made by the RP of Think & Learn in Court submissions in India. The RP refused to provide information to Byju Raveendran that was requested by Byju Raveendran as ordered by the Delaware Court. GLAS Trust & Alpha did not inform the Delaware Court that the alleged 'missing' funds were not missing at all but instead were used by Alpha and Think & Learn though an investment in shares of Think & Learn. Think & Learn guaranteed the Loan itself and has been ordered to pay damages in other Delaware Court proceedings."
The Edutech Founders' legal advisors have indicated that multi-billion-dollar defamation and damages lawsuits (estimated at over USD 2.5 billion) will be filed within 30 days . (ANI)