Byju must pay over $1 bn

BYJU'S ALPHA WAS incorporated when Raveendran was running the management of edtech firm Think and Learn (TLPL), which operated under Byju’s brand name.

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The judgment directed Raveendran to provide a full and accurate accounting of the Alpha Funds and any proceeds thereof, such as the Camshaft LP Interest, including each and every subsequent transfer and any proceeds thereof.

Raveendran in a disclosure to counter allegation of siphoning of TLB funds though overseas entities OCI and Camshaft had said that it routinely engaged with the UK-based OCI for its international expansion and business purposes.

BYJU’S Alpha had bought a small interest in Camshaft which provided credit to OCI for carrying out routine business as discussion with other investors and lenders was taking time to pursue Byju’s expansion plan.

When contacted, Raveendran’s legal adviser said the court judgment and related orders will be appealed promptly by Byju