BYJU'S

Court documents revealed $533 million (44% of a $1.2 billion loan) went missing, allegedly redirected to an entity controlled by Byju Raveendran. A US bankruptcy court penalized director Riju Ravindran $10,000/day for contempt in August 2024. The funds were allegedly transferred to Camshaft Capital, a hedge fund found to be at a pancake shop address run by a 23-year-old. A $1.07 billion judgment was issued November 2025.

In January 2024, major shareholders including Prosus voted to remove founder Byju Raveendran as CEO during an extraordinary general meeting, seeking resolution of 'outstanding governance, financial mismanagement and compliance issues.' Raveendran and family members did not attend. Earlier in June 2023, auditor Deloitte and three board members had severed ties over governance concerns. The company's valuation collapsed from $22 billion to zero.