New York, February 28: A Bankruptcy Court in the US on Friday issued a summary judgement against Riju Ravindran, Think & Learn (the parent company of Byju슬롯사이트™s), and the hedge fund Camshaft Capital, finding them guilty of fraudulent transfer of $533 million and a 슬롯사이트œbreach of fiduciary duty.슬롯사이트�

In its ruling, the Delaware Bankruptcy Court confirmed that the multiple transfers of funds from Byju슬롯사이트™s Alpha (the US subsidiary of the beleaguered edtech company Byju슬롯사이트™s) constituted actual fraudulent transfers and conversion.슬롯 머신 사이트 추천Tech Hiring in India: STEM Jobs in Tier 2 and 3 Cities To Rise 15슬롯사이트�20% by 2027, Overall Sector Growth Expected at 40슬롯사이트�45%.

The court also confirmed that Riju Ravindran (brother of Byju Raveendran) violated his fiduciary duties as a director of Byju슬롯사이트™s Alpha. 슬롯사이트œWe are gratified the Court unequivocally recognised that Riju Ravindran, Camshaft, and Byju's together conducted a deliberate fraud on a global scale arising from the theft of $533 million. This is a significant step forward in the Lenders슬롯사이트� efforts to recover the stolen funds that are rightfully owed to them,슬롯사이트� the Lenders said in a statement.

The court order came after a case was filed in February last year by Byju's lenders represented by Glas Trust LLC. Byju's Alpha was a special purpose financial institution created to borrow a five-year $1.2 billion term loan from Glas Trust in November 2021.

Byju's Alpha defaulted on its loan obligations in March 2022 and was put under trusteeship in March 2023. The $1.2-billion loan was provided to Byju슬롯사이트™s by a syndicate of 37 financial institutions.

According to the lenders, in 2022, Byju슬롯사이트™s Alpha, under the control of the Raveendran family (and prior to the brothers슬롯사이트� removal as director and officers of BYJU슬롯사이트™s Alpha on March 3, 2023), allegedly transferred $533 million in Term Loan proceeds to Camshaft Capital Fund, a sham hedge fund founded by William Morton.슬롯 머신 사이트 추천Truecaller Announces Full Integration With Latest iOS 18.2 or Newer Version, Says Service 슬롯사이트˜Now Works on iPhone슬롯사이트�.

슬롯사이트œIn March 2023, Byju슬롯사이트™s Alpha슬롯사이트™s limited partnership interest in Camshaft Capital Fund was transferred by Riju and Byju to Inspilearn LLC, and then again transferred to, and then redeemed by an offshore trust of Inspilearn in February 2024. Subsequently, there was yet another transfer to a still undisclosed entity,슬롯사이트� according to the lenders.

(The above story first appeared on LatestLY on Mar 01, 2025 10:14 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).