Wednesday, June 18, 2025

Byju’s RP’s suit claims directors owe compensation to company under IBC laws

An EY-backed resolution professional, Shailendra Ajmera, has sued former Byju's directors. The lawsuits claim fraudulent asset transfers. These transfers allegedly deprived Think and Learn of funds. The transactions involve $533 million and Rs 130 crore. Riju Ravindran previously filed a petition. He sought Ajmera's removal citing conflict of interest. A Delaware court also ruled against Byju's Alpha's asset transfer.

from Tech-Economic Times
via IFTTT

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