Archive · 19 Jun 2025
BYJU'S Faces Lawsuit, ICAI Probe Resumes, Financial Allegations Arise
BYJU'S, an education tech company, is in legal trouble.
The person in charge of sorting out its problems (RP) is suing former leaders for moving company money improperly.
They're looking to get back hundreds of millions of dollars.
The former leaders say these accusations are false.
Also, the group that checks accountants (ICAI) will restart its investigation into BYJU'S financial reports, looking into whether the company followed accounting rules.
Lastly, a U.S. court sided with BYJU’S lenders in a case about moving $533 million.
BYJU'S resolution professional (RP) filed a lawsuit against former directors for asset transfers.
The RP is seeking compensation for $533 Mn and INR 130 Cr in alleged fraudulent transfers.
BYJU'S founders deny the allegations, calling them part of an orchestrated effort.
The Institute of Chartered Accountants of India (ICAI) will resume its probe into BYJU'S financial statements.
The US Insolvency Court ruled in favor of lenders in a case involving BYJU'S Alpha.
- Who
- BYJU'S RP is suing former directors, including Byju Raveendran. The ICAI is resuming its investigation.
- What
- Lawsuit filed against former BYJU'S directors and a renewed probe into its finances.
- When
- The lawsuit was filed on April 18; the ICAI probe will resume soon.
- Where
- The lawsuit was filed at the National Company Law Tribunal (NCLT). The ICAI investigation is in India; the US subsidiary case was in US Insolvency Court.
- Why
- The RP is seeking compensation for alleged fraudulent transfers of assets. The ICAI is investigating financial irregularities.
BYJU'S RP and Lenders
BYJU'S Founders
Financial Irregularities
BYJU'S RP and Lenders
Claims fraudulent transfer of $533 Mn and INR 130 Cr.
BYJU'S Founders
Founders deny allegations; they are part of an orchestrated effort.
- Lawsuit Filed By
- BYJU'S Resolution Professional (RP)
- Defendants
- Former directors: Byju Raveendran, Riju Ravindran, Divya Gokulnath and Jiney Thathil
- Alleged Fraudulent Transfers
- $533 Mn and INR 130 Cr
- Next Hearing
- July 9
- ICAI Probe
- Resuming investigation into financial statements
- US Subsidiary Case
- Court ruled in favor of lenders