Byju’s Founders Deny Allegations as Baseless

The founders of the embattled edtech firm Byju’s have vehemently denied the allegations made by GLAS Trust Company in a recent US lawsuit, labeling them as "completely baseless and untrue." They have accused GLAS of a conspiracy to take control of the company through nefarious means.

Escalation in Dispute

The conflict between Byju’s and GLAS Trust, representing US-based lenders, escalates as Byju Raveendran files an FIR in India against the former resolution professional, GLAS, and certain EY employees.

Allegations of Intimidation and Misconduct

Byju’s founders allege that GLAS has been intimidating them and the management for two years, filing frivolous lawsuits in the US to cover up their criminal activities in India.

Financial Transparency Claimed

The founders assert that a detailed affidavit submitted in Delaware court outlines the expenditure of the entire $1.2 billion loan, disputing GLAS's claims of missing funds.

GLAS Trust Responds

GLAS Trust has refuted Byju’s allegations, calling them fabricated and part of a desperate attempt to avoid accountability for misconduct, following judicial processes that placed Think & Learn into insolvency.

Legal Battles Continue

With a US Court finding Think & Learn’s founders responsible for defrauding lenders of $533 million, GLAS vows to hold Byju accountable for the harm caused to lenders and customers.