BYJU’S founder Byju Raveendran faces allegations of manipulating Nebraska businessman William R Heller to secure over $1.2 billion in loans from US creditors.
The funds were allegedly intended to buy out Epic! Creations, a US-based edtech company owned by BYJU’S and caught in bankruptcy proceedings. Heller testified in a Delaware court, claiming he was used as a “pawn” in the scheme. This controversy comes shortly after the NCLT blocked Aakash’s Articles of Association changes, further complicating Raveendran’s attempts to manage BYJU’S troubled subsidiaries.