A United States Bankruptcy Court has ruled in favor of Byju's term loan lenders, prohibiting the further transfer or use of $533 million in loan proceeds previously held by Camshaft Capital Fund, LP and transferred to an undisclosed offshore trust.
The court found Byju Raveendran and Divya Gokulnath to be acting in concert with the defendants and ordered compliance with its ruling. This decision stems from concerns over potential fraudulent conveyance, as funds were transferred from BYJU’s Alpha and subsequently concealed.