Byju’s Founder Owes $715 Million for Default, Lenders Say (1)

Byju’s Alpha Inc. founder Byju Raveendran should be made to pay about $715 million in damages from a default judgment on claims that he orchestrated fraudulent transfers, the education technology firm and lenders said.

The former CEO, who had judgment entered against him in November for violating discovery orders, should be required to pay back $533 million in siphoned funds, plus interest, the company and lender agent GLAS Trust Co. LLC told the US Bankruptcy Court for the District of Delaware on Wednesday.

“Moreover, because Raveendran’s default judgment is premised upon his flagrant discovery violations—including his refusal to engage in ...