Byju's Must Freeze $533 Million, Says US Bankruptcy Judge In Win For Lenders

The decision by US Bankruptcy Judge John Dorsey was a mixed victory for lenders.

Tech firm Think & Learn Pvt must freeze $533 million to protect the money for disgruntled lenders who claim the cash should only be used to pay them, a US judge said on Thursday.

The decision by US Bankruptcy Judge John Dorsey was a mixed victory for lenders. They earlier demanded the money be placed under the control of the federal court to prevent the cash from being spent by the education-tech firm, which operates under the name Byju's.

Judge Dorsey's order was aimed at Riju Ravindran, one of the company's directors and the brother of founder Byju Raveendran.