Byju Raveendran told to pay $1.07 billion for hiding Alpha funds in US
A US-based bankruptcy court has ordered BYJU Founder Byju Raveendran to pay over $1.07 billion in a default judgment after ruling that he willfully concealed funds from the company's financing arm Alpha. This comes after Raveendran repeatedly failed to appear in court and present the documents. Alpha was incorporated in Delaware to manage a loan from global lenders.