North News
Chandigarh, August 2
American lenders are aiming to freeze the assets of Riju Ravindran, a suspended director of the Indian edtech giant Byju’s, insisting that his funds should be directed to pay off debts owed to them rather than settling with India’s cricket governing body, BCCI. According to Business Standard,GLAS Trust Company, representing lenders owed $1.2 billion, requested a US bankruptcy judge to prevent Ravindran from paying more than $19 million to BCCI to resolve an insolvency case in India. The lenders argue that Ravindran, who allegedly hid $533 million, has evaded accountability by using his international residence.
Byju’s US Lenders Seek to Block Payment to BCCI, Demand Their Money First
