New Delhi [India], July 18 : In a series of posts the founder of embattled ed tech firm BYJU's, Byju Raveendran, has claimed that the counsel for GLAS trust has made unsubstantiated allegations against him during proceeding in a US Court in Delaware. Glas Trust is the trustee representing lenders.
https://x.com/ByjuofBYJUS/status/1946086847869784214
In a post on X Byju Raveendran alleged, "Shocking revelations from Delaware court transcripts! GLAS counsel Ravi Shankar is at it again, lying to sway orders. He is peddling "reports" that I'm negotiating with high-ranking Indian officials for "substantial payments" - pure fiction, no evidence presented. This in a Court case where I am not even a party to defend myself!"
"Highlight from the transcript: Shankar claims these "reports" suggest private/unofficial deals to resolve FEMA disputes. NO PROOF, JUST SMEARS! These FEMA probes were against TLPL- controlled now illegally by GLAS represented by Ravi Shankar as 99% of the COC! Why will I," the second post read.
"The evidence? None. Just that Ravi Shankar and GLAS have "received reports." From where? Their own corrupted inner voice? This is their playbook: -Make a wild claim in Delaware to trigger panic & sway orders in Delaware court. -Shout '533m' & '1.2b' multiple times, without," the third post claimed.
Further Byju Raveendran claims that the counsel has been leaking information to damage his reputation
"This isn't isolated. Shankar has always misled with slide decksomitting key details on signatures, jurisdiction, and service dates to paint a false picture. It's a pattern of courtroom theatrics: Lie and omit in US court, leak to Indian media, damage reputations while All my substantial payments were made to TLPL. Today, I've nothing except my shares in TLPL! And, for the nth time, no monies are 'missing' and we do not have any of these monies! The future of thousands of employees & millions of students has been sabotaged by GLAS...," his posts read.
Byju Raveendran further claimed that he is preparing a USD 2.5 Billion lawsuit against the investor.
"I'm done with their smear campaign & misleading of the Courts. Now, I'll use every tool available to oblige them to fix the damage they caused and ensure they make substantial payments, which will go towards rebuilding our company. We are preparing a $2.5b lawsuit against.... This isn't just about me. It's about justice for the thousands who have stood by us through manipulation, misinformation & legal bullying. We will fight backwith the truth, with evidence, and in every forum that matters," he claimed in his post.
Earlier, BYJU'S founders said they were considering seeking legal action against parties that they allege are trying to cause damage to their business.
"The conduct before the Courts by Alpha, Glas Trust and its counsel has been reprehensible and improper in our view. We reserve the right to use all legal means to obtain justice for BYJU's Founders. Claims have already been raised in India against Glas Trust, the former subsidiary of Think & Learn, that Glas Trust now claims to control and other parties," stated J Michael McNutt, Senior Litigation Advisor, Lazareff Le Bars Eurl on behalf of BYJU's founders
"Additional Claims are being prepared against those parties in other jurisdictions. Such claims to be issued by all or some of BYJU's Founders are expected to request monetary damages of not less than $2.5 billion," the Litigation Advisor added.
BYJU's further claimed that there is no Court Order in any jurisdiction, including in India or the United States, ordering the payment by Byju Raveendran or Divya Gokulnath of any amount to Think & Learn, or any entity related to Think & Learn.
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