BYJU’s RP Files Suit Against Raveendran, His Brother & Wife Over Asset Diversion

BYJU’s current resolution professional, Shailendra Ajmera, has filed a lawsuit against former directors of Think & Learn Private Limited, Byju Raveendran, Riju Ravindran and Divya Gokulnath for allegedly diverting company assets.

The lawsuits invoke a provision in the Insolvency and Bankruptcy Code that permits legal action to reverse transactions executed by a company’s prior management.

Ajmera claimed in the lawsuits, filed in late April 2025 at the National Company Law Tribunal (NCLT), that two separate transactions were detrimental to Think & Learn. One involved a $ 533 million investment held by BYJU’s US subsidiary, BYJU’s Alpha, being transferred to related entities. The other involved ₹ 130 crore being moved from Think & Learn to one of its Indian subsidiaries. These transactions, the allegations state, deprived Think & Learn of those funds.

This follows Riju Ravindran’s appeal to the NCLT in early April 2025, in which he claimed Ajmera should be removed as the resolution professional because EY had advised the firm prior to its admission into insolvency proceedings, raising a potential conflict of interest.

Byju’s 3.0

Once a shining star in the Indian start‑up ecosystem, Byju’s attracted global investors but has spent years navigating financial setbacks and courtroom battles. Amid the chaos, founder Byju Raveendran indicated that the edtech giant will rewrite its narrative: “We don’t belong in courtrooms. We belong in classrooms. That’s where we started and that’s where we’re going back,” he told ANI.

Raveendran revealed the company’s next move Byju’s 3.0 with a message rooted in purpose over profit. “I am so excited to talk to you about Byju’s 3.0… there is so much respect for teachers and learning,” he told the newswire in an exclusive interview.

Earlier this year, Byju’s founders, including Raveendran and Divya Gokulnath, said in a LinkedIn post that auditor EY, the former resolution professional and lenders had formed a “criminal collusion” against the interests of the founders.

Also in March 2025, the US Insolvency Court, hearing the case of Byju’s US subsidiary BYJU’s Alpha pertaining to a $ 1.2 billion term loan ruled in favour of the lenders in a dispute over a fraudulent transfer of $ 533 million to Camshaft Fund by BYJU’s Alpha.