The US Bankruptcy Court for the District of Delaware on Friday determined that Byju’s suspended director Riju Ravindran, founder Byju Raveendran, hedge fund Camshaft Capital Fund, and the parent company Think & Learn are responsible for defrauding its US entity, Byju’s Alpha Inc, and its lenders.

This development was announced by the lenders of Byju’s $1.2 billion term loan. They stated that the court confirmed that several fund transfers from Alpha were fraudulent and amounted to theft. It also ruled that Riju Ravindran had breached his duties as…

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