BYJU’s founders Byju Raveendran and Divya Gokulnath are making ready to file authorized claims exceeding $2.5 billion towards Glas Belief Firm LLC and different entities, each in India and overseas, alleging harm to their private and enterprise status. The transfer comes amid a high-stakes company battle over the way forward for edtech agency Assume & Be taught, which owns the BYJU’S model.
In a press release issued by means of litigation advisor Lazareff Le Bars Eurl, senior counsel J Michael McNutt stated: “BYJU’s founders reserve all rights to convey actions towards these events which have prompted harm to them personally and their companies, together with Assume & Be taught. The conduct earlier than the Courts by Alpha, Glas Belief and its counsel has been reprehensible and improper in our view. We reserve the appropriate to make use of all authorized means to acquire justice for BYJU’s founders.”
In line with McNutt, further claims are being ready in different jurisdictions, and the financial harm sought is “not lower than USD 2.5 billion.” He added: “Such claims to be issued by all or a few of BYJU’s founders are anticipated to request financial damages of not lower than USD 2.5 billion.”
Glas Belief is the trustee for lenders to which BYJU’S owes $1.2 billion beneath a time period mortgage facility. The corporate has filed a number of authorized proceedings towards the edtech agency and its founders, together with insolvency petitions and a civil lawsuit in Delaware, USA. At current, Assume & Be taught is present process Company Insolvency Decision Course of (CIRP) initiated by Glas Belief, whose authority can be being contested.
BYJU’S founders declare Glas Belief holds solely 17.38% of the voting rights of the lender consortium. “Byju is actively taking part in a Delaware Court docket process initiated in early April 2025 towards him by the Glas Belief-bankrupt subsidiary,” the counsel stated, including, “Byju vigorously denies all allegations made towards him in these proceedings and is defending himself in these proceedings.”
The Delaware courtroom not too long ago issued a civil contempt order dated July 7, 2025, which Byju is difficult. “That Civil Contempt Order issues requests for info which are duplicative of issues already earlier than the Indian Courts,” the counsel stated. “Byju and his counsel are evaluating the right way to tackle that Order and reserve all rights.”
The lawsuit additionally stems from a separate case filed by BYJU’S Alpha, a US-based particular goal automobile created to obtain the Time period Mortgage B funds. BYJU’S Alpha has accused Byju Raveendran, Divya Gokulnath, and Anita Kishore of executing a “lawless scheme” to divert USD 533 million of mortgage proceeds — prices that are being contested by the founders.
McNutt additionally clarified: “There isn’t any courtroom order in any jurisdiction, together with in India or america, ordering the fee by Byju or Gokulnath of any quantity to Assume & Be taught, or any entity associated to Assume & Be taught.”
The authorized standoff continues even because the Supreme Court docket of India has allowed the insolvency case to proceed, reversing an earlier dismissal by the Nationwide Firm Regulation Appellate Tribunal (NCLAT) in a separate plea filed by BCCI.
(With inputs from PTI)
