India, April 11 -- Now, It's Byju Vs BYJU'S Alpha

Lenders are amping up the heat on BYJU'S. The creditors, via the edtech's US-based special purpose vehicle (SPV) BYJU'S Alpha, have sued cofounders Byju Raveendran and Divya Gokulnath and advisor Anita Kishore for allegedly 'misappropriating' $533 Mn in funds.

Allegations Run Amok: In its lawsuit, the lenders allege that the three orchestrated a lawless scheme to conceal and steal $533 Mn of loan proceeds and deliberately hid the assets of BYJU's Alpha.

In retort, cofounders have termed the charges "baseless and untrue", and accused the creditors of conspiring to take control of BYJU'S through 'nefarious means', including filing lawsuits and using media narratives.

The Deeper Rot: The ...