BYJU'S Insolvency Saga: RP Sues Dubai Partner For INR 1,597 Cr

The resolution professional (RP) of Think and Learn Pvt Ltd., the parent of troubled edtech startup BYJU’S, has reportedly filed an INR 1,597 Cr (about $186.2 Mn) lawsuit against its Dubai-based partner, More Ideas General Trading, over unpaid dues.

As per an Economic Times report, the petition, filed before the National Company Law Tribunal (NCLT), accuses the Dubai-based entity of failing to transfer revenues from the sale of BYJU’S products in the Middle East.

For context, More Ideas had signed a revenue-sharing agreement with the edtech platform to market BYJU’S offerings in the UAE, Saudi Arabia, Qatar, Oman, Kuwait and Bahrain. As per the report, the entity reportedly withheld large sums of money payable to BYJU’S.

The lawsuit also reportedly names former BYJU’S directors and cofounders – Byju Raveendran, Riju Ravindran, and Divya Gokulnath. The petition reportedly holds the trio responsible for recovering the dues.

However, the cofounders of BYJU’S denied all the allegations. In a statement to ET, they said the case is “baseless” and an attempt by the RP to deflect attention from more serious issues raised by them in court.

“The latest case is similar to a series of baseless and false cases filed by the RP in the last few months in an attempt to shift the attention from the two main cases filed by the founders in NCLT — The first one for the RP’s removal on grounds of collusion and fraud and the second one challenging the authority of GLAS to represent the lenders,” the cofounders reportedly said.

More Troubles For Byju Raveendran

The news comes a day after a US Bankruptcy Court in Delaware found Byju Raveendran in civil contempt for failing to appear and submit evidence on time. He’s been fined $10,000 for each day of non-compliance.

In a strongly worded remark, the judge reportedly said, “I have seen a lot, but I have not seen strategic and patterned failure to provide meaningful, substantive responses to very basic and cogent questions that have gone on for more than a year.”

Raveendran, however, has denied the allegations and disputes the court’s jurisdiction, with his legal team stating that the information sought has already been submitted in Indian courts.

This development follows a March 2025 ruling by the same Delaware court against BYJU’S over the alleged fraudulent transfer of $533 Mn out of the $1.2 Bn term loan B (TLB) extended by a consortium of lenders.

Following the ruling, BYJU’S Alpha, the US-based subsidiary taken over by lenders, filed a lawsuit against Raveendran, Gokulnath, and company advisor Anita Kishore for the alleged misappropriation of the $533 Mn.

Once valued at $22 Bn, the company’s empire has steadily crumbled under a slew of factors, including mounting losses, insolvency proceedings, a series of legal cases, unpaid dues, and the list goes on.

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