Archive · 17 Nov 2025
Byju's Founders Deny Misappropriation of $533 Million
Imagine a big online school company called Byju's that is having a lot of money problems.
Some people who are helping with the bankruptcy case say that a huge amount of money, $533 million, secretly went back to the main boss, Byju Raveendran, through confusing transfers.
This is different from what Byju Raveendran said before, which was that the money was used for important things like computers and ads.
But, the people running Byju's now say that the money was actually used for the company and that the claims against them are not true.
They believe some important documents were taken out of context to make them look bad.
This company used to be worth a lot, but now it's in big trouble in different countries.
A Delaware Bankruptcy Court filing alleges $533 million from Byju's Alpha was 'roundtripped' back to founder Byju Raveendran and his affiliates.
This contradicts Byju Raveendran's previous sworn statement that the funds were used for legitimate commercial purposes like IT equipment and advertising.
Byju's founders deny the allegations, stating the money was entirely used for the benefit of Think and Learn and accusing officials of presenting selective information.
The funds in question were allegedly transferred via opaque means to a Singaporean corporate vehicle, Byju's Global, which Raveendran individually owned.
Byju's Alpha filed for Chapter 11 bankruptcy in Delaware, while India is also undergoing corporate insolvency proceedings against the company.
- Who
- Byju Raveendran, Byju's founders, Oliver Chapman (OCI Limited founder), Glas Trust, Resolution Professional (RP)
- What
- Allegations that $533 million from Byju's Alpha was misappropriated and routed back to founder Byju Raveendran, with Byju's founders denying wrongdoing and claiming the funds were used for company benefit.
- When
- Allegations surface in a Delaware Bankruptcy Court filing, stemming from transactions between May and July 2022 and a November 2021 loan. Byju's Alpha filed for Chapter 11 bankruptcy in February 2024.
- Where
- Delaware Bankruptcy Court (US), Singapore (Byju’s Global), India (Think & Learn Private Limited), UK (OCI Limited)
- Why
- The bankruptcy filing aims to settle claims regarding the disposition of $533 million; Byju's founders are defending against allegations of misappropriation to protect the company and their reputation.
Allegations in Bankruptcy Filing
Byju's Founders' Defense
Fund Misappropriation
Allegations in Bankruptcy Filing
A Delaware Bankruptcy Court filing claims $533 million was 'roundtripped' back to Byju Raveendran and his affiliates through opaque transfers to Byju's Global in Singapore. The declaration from OCI Limited founder Oliver Chapman suggests the money was clandestinely removed for Raveendran's personal benefit.
Byju's Founders' Defense
Byju's founders assert that no portion of the $533 million has been used by founders directly or indirectly. They state the full amount was used for Think and Learn's benefit, evidenced by documents and bank statements, and call Chapman's testimony 'full of conjectures and selective insinuations'.
Purpose of Funds
Allegations in Bankruptcy Filing
Oliver Chapman's declaration states that approximately $479.6 million was transferred to Revere Master SPV LLC for routing to Byju's Global, contradicting Byju Raveendran's sworn statement that the funds were for legitimate commercial purposes like IT equipment and advertising.
Byju's Founders' Defense
Byju's founders claim the funds were used for legitimate commercial purposes for Think and Learn, and accuse Glas Trust and the Resolution Professional of presenting selective information out of context.
- Alleged Missing Funds
- $533 million from Byju’s Alpha
- Source of Allegations
- Delaware Bankruptcy Court filing, declaration from Oliver Chapman (OCI Limited)
- Alleged Recipient
- Byju Raveendran and his affiliates, Byju’s Global (Singapore)
- Contradicted Statement
- Byju Raveendran's October 2024 sworn declaration
- Byju's Founders' Defense
- Funds used for Think and Learn, no founder misuse; accusing Glas Trust and RP of selective information.
- Legal Actions
- Byju's founders intend to file claims against Glas Trust for alleged violations including racketeering and obstruction of justice.
- Previous Funding Round
- $1.2 billion Term Loan B in November 2021
Sources
Why Manipal and upGrad want Byju’s—and what’s really at stake now
Delaware court filing accuses Byju Raveendran of siphoning $533 million; founders reject claims
Byju’s ‘Roundtripped’ $533M says US court filing; Founders call allegations ‘Selective and Incomplete’ - Brand Wagon News
Byju’s founders reject allegations after court filing claims $533 m was round-tripped
The Byju's dissection: Inside the edtech scramble for best assets
