Byju’s Ex-Billionaire Founder Hid $506 Million Using UK Firm (1)

Bankrupt Indian education technology firm Byju’s used a UK logistics company to help hide $505.9 million in cash from US lenders, a court filing shows.

London-based OCI Limited blamed a former adviser for arranging to move the money in and out of its business as part of a plan by Byju founder Byju Raveendran to block lenders from clawing it back. OCI founder Oliver Chapman laid out details of the transfers as part of a proposed settlement in a lawsuit that’s accusing OCI of aiding Byju’s to conceal the cash.

Byju Raveendran in 2019.

Photographer: Paul Yeung/Bloomberg

Chapman in a court filing said former adviser Rupin ...