QIA Moves HC to Seek Arbitral Award From Byju's

The Qatar Investment Authority (QIA) has moved the Karnataka High Court against BYJU's founder Byju Raveendran and his investment vehicle Byju's Investment (BIPL) to collect an arbitral award of $235 million (nearly ₹2,060 crore) for allegedly misusing funds.

- ENS ECONOMIC BUREAU @ Chennai

The QIA, through its subsidiary Qatar Holding LLC, alleged that the funds were used to acquire 1,78,91,289 shares of Aakash Education Services, and there was an express restriction against transferring those shares.

It further alleged that in breach of the agreement, the shares were later transferred to another Singapore-based corporate entity controlled by Raveendran, said a press statement from QIA.