A new twist has emerged in the long-running financial battle around Byju\u2019s, as a fresh filing in the Delaware Bankruptcy Court has alleged that the missing $533 million from Byju\u2019s Alpha was \u201croundtripped right back\u201d to founder Byju Raveendran and his affiliates. The filing claims that the disputed funds were not used for legitimate operational purposes and were instead transferred through opaque channels for personal benefit.<\/p>\n
Byju\u2019s founders have strongly denied these allegations, calling them misleading, selective, and devoid of factual basis.<\/p>\n
The new allegations were submitted as Byju\u2019s Alpha\u2014now controlled by the company\u2019s Term Loan B lenders\u2014seeks approval for a settlement with OCI Limited, the UK-based procurement company that received most of the questioned funds.<\/p>\n
As part of the settlement process, OCI\u2019s founder, Oliver Chapman, submitted a sworn declaration that \u201citemises down to the cent\u201d how the Alpha Funds were handled once received. The filing referencing this declaration alleges the following:<\/p>\n
The Alpha Funds were not used for legitimate commercial purposes, including the procurement of IT equipment, tablets, or advertising services for Think & Learn.<\/p>\n<\/li>\n
The funds were allegedly moved through a chain of opaque transfers, ultimately directing the majority of the money to Byju\u2019s Global Pte Ltd, a Singapore-based corporate entity allegedly owned by Raveendran.<\/p>\n<\/li>\n
Chapman\u2019s review reportedly showed that in 2022, $533 million was \u201cclandestinely removed\u201d with the intent to route the money into that Singapore entity.<\/p>\n<\/li>\n<\/ul>\n
The filing asserts that this movement of funds is evidence of personal enrichment, claiming:
\u201cRaveendran\u2019s plot was to siphon hundreds of millions of dollars of corporate assets for personal use.\u201d<\/p>\n
Additionally, the documents allege that former OCI representative Rupin Banker and others \u201cabused OCI to facilitate a fraud on the Debtor and its creditors.\u201d<\/p>\n
Also Read:<\/strong> Groww Founder Lalit Keshre, a Farmer\u2019s Son, Becomes a Billionaire After Stellar IPO<\/a><\/em><\/p>\n Byju\u2019s founders issued a firm rebuttal in a media statement on November 17, calling the allegations \u201ccategorically and unequivocally false.\u201d They said the court filing relies heavily on a selective and incomplete declaration from OCI\u2019s CEO that ignores the full financial trail.<\/p>\n According to the founders:<\/p>\n \u201cNo portion of the USD 533 million has been used by founders directly or indirectly.\u201d<\/p>\n<\/li>\n The entire amount was used for the benefit of Think & Learn, supported by documents and bank statements.<\/p>\n<\/li>\n Oliver Chapman\u2019s testimony includes \u201cconjectures and selective insinuations\u201d and does not substantiate any wrongdoing, they said.<\/p>\n<\/li>\n<\/ul>\n The statement further added that GLAS Trust and the Resolution Professional already have complete access to all financial records, bank statements, and underlying documents of Think & Learn and its US subsidiaries.<\/p>\n Byju\u2019s claimed: The company said it will soon submit a formal filing to counter every allegation made in the Delaware submission.<\/p>\n The story dates back to November 2021, when Byju\u2019s raised $1.2 billion through a Term Loan B via Byju\u2019s Alpha. The funds were intended for major global acquisitions and aggressive expansion.<\/p>\n However, by mid-2023:<\/p>\n Lenders alleged substantial breaches of the loan agreement,<\/p>\n<\/li>\n And claimed that around $500 million was missing from Byju\u2019s Alpha.<\/p>\n<\/li>\n<\/ul>\n In November 2023, the Delaware court ruled in favour of the lenders, giving them control over Byju\u2019s Alpha.<\/p>\n Meanwhile, in India, the company was hit by increasing cash-flow issues. On June 16, 2024, the BCCI filed an insolvency petition against the firm over unpaid dues of \u20b9158 crore, triggering insolvency proceedings under India\u2019s IBC.<\/p>\n The latest filing indicates that the Delaware legal dispute is far from over. With Byju\u2019s preparing a detailed counter-submission and the court considering the settlement with OCI Limited, the case continues to unfold across multiple jurisdictions.<\/p>\n For now, the controversy surrounding the missing $533 million and the contrasting claims from both sides remains one of the most significant chapters in Byju\u2019s ongoing financial crisis.<\/p>\n Click here to explore A new twist has emerged in the long-running financial battle around Byju\u2019s, as a fresh filing in the Delaware Bankruptcy Court has alleged that the missing $533 million from Byju\u2019s Alpha was \u201croundtripped right back\u201d to founder Byju Raveendran and his affiliates. The filing claims that the disputed funds were not used for legitimate operational […]<\/p>\n","protected":false},"author":7,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1365],"tags":[],"ppma_author":[1384],"class_list":{"0":"post-17562","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business-news"}," _eael_post_view_count":0,"authors":[{"term_id":1384,"user_id":7,"is_guest":0,"slug":"jitesh-kanwariya","display_name":"Jitesh Kanwariya","avatar_url":{"url":"https:\/\/trending.niftytrader.in\/wp-content\/uploads\/2025\/08\/Jitesh-Kanwriya.jpeg","url2x":"https:\/\/trending.niftytrader.in\/wp-content\/uploads\/2025\/08\/Jitesh-Kanwriya.jpeg"},"0":null,"1":"","2":"","3":"","4":"","5":"","6":"","7":""}],"_links":{"self":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts\/17562","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/comments?post=17562"}],"version-history":[{"count":1,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts\/17562\/revisions"}],"predecessor-version":[{"id":17564,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts\/17562\/revisions\/17564"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/media\/17563"}],"wp:attachment":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/media?parent=17562"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/categories?post=17562"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/tags?post=17562"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/ppma_author?post=17562"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Byju\u2019s Issues Strong Denial: \u201cSelective and Misleading\u201d<\/h2>\n
\n
\u201cWhen the full money trail is available with them, presenting only half-truths is a deliberate strategy to sabotage the founders\u2019 reputation.\u201d<\/p>\nHow the Saga Began: The Term Loan B Dispute?<\/h2>\n
\n
What Happens Next?<\/h3>\n
\n<\/strong><\/em>Gift Nifty<\/a>
\nFII DII Data<\/a>
\nIPO<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"