Legal Battle Intensifies: Byju's Founders vs. Glas Trust

US-based Glas Trust alleges Byju's founders' defamation case aims to distract from judgments against them. Byju’s lawyers plan a $2.5 billion suit against Glas Trust for reputational damage. The dispute involves allegations of loan concealment, with ongoing legal proceedings in US and Indian courts.

In an escalating legal saga, US-based lender agent Glas Trust has accused Byju's founders of attempting to divert attention with a defamation lawsuit amid multiple court rulings against them. The legal team for Byju's founders, countering the allegations, denounced them as 'incomplete and misleading.'

Byju's founders, including Byju Raveendran and Divya Gokulnath, are preparing to file a substantial $2.5 billion lawsuit against Glas Trust, claiming damages to their reputation and business. The dispute centers around accusations of financial misconduct, with Glas Trust alleging a scheme to misappropriate $533 million from loan proceeds.

As legal proceedings unfold, Glas Trust remains firm in its stance, asserting that it acted within its rights, while Byju's founders contest these claims vigorously in courts both in the US and India. This complex legal battle highlights the ongoing friction in one of the largest edtech financing disputes.

(With inputs from agencies.)