Apr 10, 2025 09:40 PM IST
The assertion additional accused GLAS of resorting to a method of allegedly intimidating the founders and administration of Byju’s for the final two years.
Founders of Byju’s on Thursday slammed allegations by GLAS Belief in a current lawsuit as utterly “baseless and untrue”, and termed it part of their conspiracy to wrestle management of the corporate by way of “possible nefarious means”.
Founders of Byju’s on Thursday slammed allegations by GLAS Belief in a current lawsuit as utterly “baseless and untrue”.(Bloomberg)
The founders of the embattled edtech agency, Byju Raveendran, had just lately filed an FIR in opposition to the previous decision skilled (RP), a trustee representing US lenders, and sure EY staff.
“The allegations made by GLAS in the recent lawsuit are completely baseless and untrue. This lawsuit is a part of their conspiracy to wrestle control of BYJU’S through all possible nefarious means,” Byju’s founders mentioned in a press release, which marks an escalation within the spat between the crisis-ridden edtech agency and GLAS Belief Firm, which represents sure lenders.
Additionally learn: ‘Broke, not broken’: Byju Raveendran shares pic from youthful days amid chapter limbo
The assertion by the founders additional alleged, “It is nothing but yet another cog in the wheel of lies that GLAS, the illegal representative of disqualified lenders in the US, has been rotating for a long time now.”
The assertion additional accused GLAS of resorting to a method of allegedly intimidating the founders and administration of Byju’s for the final two years revolving round submitting a “flimsy and frivolous lawsuit in the US” after which peddling it endlessly to “whitewash their criminal and unethical activities in India”.
“A signed and verified affidavit that we submitted in the court of Delaware has the details of how the entire USD 1.2 billion loan was spent, to the last dollar. And yet, that affidavit was conveniently ignored and GLAS has continued to raise the question of the so-called missing USD 533 million repeatedly to mislead,” the founders mentioned within the assertion.
Information / Enterprise / Byju’s founders slam GLAS’ US lawsuit as ‘baseless’, time period it as a ‘conspiracy’
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