New Delhi, November 22: The US Bankruptcy Court has reportedly issued a default judgment of over USD 1 billion against Byju Raveendran. The court has ordered Byju’s founder, Byju Raveendran to pay more than USD 1.07 billion. The ruling came after the court noted repeated non-compliance in the Byju’s Alpha adversary case. The court has also reportedly directed edtech founder Raveendran to submit a complete and verified accounting of the Alpha Funds, including details of any proceeds generated through subsequent transactions.

A default judgment is a court decision made when one party fails to take part in the legal process or does not follow the court’s instructions. It allows the judge to rule on the matter without moving to a trial. As per a report of The Times of India, the Delaware Bankruptcy Court has issued a default judgment of over USD 1.07 billion against Byju Raveendran, stating that the edtech founder repeatedly failed to follow orders in the Byju’s Alpha adversary proceedings. Grok 4.20 Launch Update: Elon Musk Says New Grok AI Version Will Be Ready by Christmas and Offer Major Improvements.

As per multiple reports, Byju’s Alpha was set up in Delaware in 2021 to handle the company’s USD 1.2 billion term loan from a consortium of global lenders. The court ruling was issued on November 20. It orders USD 533 million in damages for what the court described as the fraudulent transfer of Byju’s Alpha funds in 2022. Additionally, the court has imposed another USD 540.6 million related to the transfer of the debtor’s interest in Camshaft Capital Fund, a hedge fund based in the US.

Judge Brendan Shannon stated that the relief granted was "extraordinary" and described as an "extensive and repeated pattern of delay and obfuscation." The court order also detailed several instances of non-compliance, including missed deadlines, incomplete filings, and failures to appear when required. It also noted non-payment of the earlier sanctions of a USD 10,000-per-day fine imposed in July for civil contempt. Zoho’s Sridhar Vembu Advises Young Entrepreneurs To Marry and Have Kids in Their 20s, Calling It Their ‘Demographic Duty’; Netizens React.

The judgment was issued with another filing made earlier this week. In that submission, the bankruptcy estate presented a sworn declaration from UK businessman Oliver Chapman. The disputed funds were allegedly passed through his company, OCI Limited, before being transferred to a Singapore-based entity that the debtor claims was connected to Raveendran.

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TruLY Score 3 – Believable; Needs Further Research | On a Trust Scale of 0-5 this article has scored 3 on LatestLY, this article appears believable but may need additional verification. It is based on reporting from news websites or verified journalists (The Times of India), but lacks supporting official confirmation. Readers are advised to treat the information as credible but continue to follow up for updates or confirmations

(The above story first appeared on LatestLY on Nov 22, 2025 12:11 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).