Byju's US Lenders Sue Founder, Wife, Top Aide Over Missing Cash

American lenders sued controversial Indian tech entrepreneur Byju Raveendran and his wife in a US bankruptcy court, seeking to hold them personally responsible for more than $500 million in missing loan proceeds.
In a complaint filed Wednesday in Wilmington, Delaware, the lenders repeated many of their previous allegations against Raveendran and the bankrupt education-tech company he founded in India. Two US bankruptcy judges have largely sided with the lenders, finding recently that Raveendran's brother and the company, Think & Learn, better known simply as Byju's, violated their fiduciary duties by wrongly transferring $533 million away from creditors.

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

Business Upturn

41 minutes ago

• Business Upturn

Nifty 50 top gainers today, June 23: Trent, Bharat Electronics, Hindalco Industries, Tata Consumer Products and more

By Aman Shukla Published on June 23, 2025, 15:38 IST The Indian equity market wrapped up Monday's session (June 23) in the red, with both benchmark indices posting moderate losses. The BSE Sensex slipped 511.38 points, or 0.62%, to close at 81,896.79. Meanwhile, the Nifty gave up the key 25,000 mark, ending 140.50 points lower at 24,971.90. Despite the overall bearish tone, a handful of Nifty 50 stocks managed to buck the trend and close with notable gains, with Trent, Bharat Electronics, and Hindalco Industries leading the charge. Below is a detailed look at the top gainers of the Nifty 50 (as per Trendline) for the day. Nifty 50 Top Gainers on June 23 Trent closed at ₹6,108, marking a 3.6% increase. Bharat Electronics ended the day at ₹421.4, up by 3.2% . Hindalco Industries rose 2.0% to close at ₹662.0. Tata Consumer Products recorded a 1.0% gain, settling at ₹1,110.8. Bajaj Finance advanced by 0.9% to ₹913.0. Coal India added 0.8% , closing at ₹392.2. Adani Enterprises moved up 0.7% to ₹2,466.0. Eternal gained 0.5% , finishing at ₹254.5. SBI Life Insurance also rose 0.5% , closing at ₹1,819.0. Bajaj Finserv edged up 0.4% to ₹1,995.0. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at

Business Upturn

41 minutes ago

• Business Upturn

Nifty 50 top losers today, June 23: Infosys, HCL Technologies, Larsen & Toubro, Hero MotoCorp, Mahindra & Mahindra and more

The Indian equity market ended Monday's trading session (June 23) in negative territory, with both benchmark indices witnessing moderate declines. The BSE Sensex dropped 511.38 points, or 0.62%, to close at 81,896.79, while the NSE Nifty slipped below the crucial 25,000 mark, ending 140.50 points lower at 24,971.90. Among the biggest losers of the day were well-known names such as Infosys, HCL Technologies and Larsen & Toubro. Let's take a closer look at the top losers of the Nifty 50, according to Trendlyne. Nifty 50 top losers on June 23 Infosys closed at ₹1,584.70, down 2.4%. HCL Technologies closed at ₹1,699.90, down 2.3%. Larsen & Toubro closed at ₹3,579.00, down 2.3%. Hero MotoCorp closed at ₹4,247.20, down 2.1%. Mahindra & Mahindra closed at ₹3,136.00, down 1.5%. Hindustan Unilever closed at ₹2,276.00, down 1.3%. Tata Consultancy Services closed at ₹3,392.00, down 1.3%. ITC closed at ₹413.40, down 1.2%. Wipro closed at ₹263.50, down 1.1%. Bajaj Auto closed at ₹8,277.00, down 1.1%. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash HCL TechnologiesHero MotocorpInfosysLarsen & ToubroNifty Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at

Forbes

43 minutes ago

• Forbes

Opportunities And Headwinds Facing America's Emerging Public Companies

Cody Slach, Senior Managing Director at Gateway Group. While tech giants and trillion-dollar valuations dominate financial headlines, an entirely different group of companies continues to build, innovate and hustle for market share: small-cap public companies. Typically defined as businesses with market capitalizations under $2 billion, small-caps make up the backbone of American entrepreneurship on the public stage. And yet, they often remain overlooked by institutional investors, underfollowed by analysts and overburdened by regulation. Their journey is one of high potential but also high pressure. The Upside Of Being Small (And Public) Large corporations may have scale, but small-caps have speed. Without layers of bureaucracy, they can pivot faster in response to market signals. In a landscape increasingly defined by disruption, agility can be a competitive edge. Small-caps often trade at valuations that leave room for substantial upside. A successful product launch, strategic acquisition or entry into a new market can deliver meaningful growth—something harder to achieve in mature, large-cap firms. Many small-caps don't go public with dreams of becoming the next Apple—they go public to build credibility, attract capital and ultimately be acquired. For investors, that often means a built-in exit strategy with potential upside. In small-cap companies, leadership is closer to the business and often more accessible to investors. There's less institutional inertia and more incentive to perform. The Challenges Are Real—And Growing Public companies face mounting compliance costs, and for small-caps, these are felt more acutely. For example, in 2004, U.S. companies with revenues over $5 billion spent 0.06% of revenue on SOX compliance, while companies with less than $100 million in revenue spent 2.55%. With lower trading volumes and limited analyst coverage, small-cap stocks are more vulnerable to price swings. That can deter institutional capital and discourage long-term investors during market downturns. Small-cap firms often struggle to attract top-tier talent, particularly in competitive sectors like AI or biotech. Access to capital is similarly constrained, especially in tighter interest rate environments or risk-off markets. Policy Could Help—Or Hurt There's bipartisan support for revisiting regulations that disproportionately burden small public firms. Reforms could include simplified reporting for companies under a certain revenue threshold or extending the 'emerging growth company' benefits of the JOBS Act. But nothing moves quickly in Washington, and without relief, some promising firms may opt to stay private indefinitely. The Risks Can Be Justified But if investors get it right, the returns can outperform. One way to look at this is the standard deviation of daily returns—i.e., the amount prices move away from the mean. Let's take a look at that for two indices that are synonymous with small-cap and large-cap—the Russell 2000 and Russell 1000 indexes, respectively. According to LSEG, since inception, the standard deviation for the Russell 1000 was 17.54% vs. 20.01% for the Russell 2000. While those numbers may seem small, they measure a large sample size, with outliers to the upside and downside. Picking the right stock in the Russell 2000 can generate substantial alpha. While large-cap tech giants dominate headlines, small-cap public companies (again, market caps under $2 billion) play a vital yet often overlooked role in the U.S. economy. These firms offer agility, growth potential and acquisition appeal, making them attractive to investors seeking outsized returns. Their leadership is typically more accessible and accountable, and they often trade at valuations that allow for substantial upside. However, small-caps also face significant challenges: disproportionately high regulatory compliance costs, liquidity issues, limited analyst coverage, difficulty attracting talent and restricted access to capital. Policy reforms could ease some of these burdens, but progress is slow. Despite higher volatility, as shown by the Russell 2000's greater standard deviation compared to the Russell 1000, smart investors can achieve meaningful returns by picking the right small-cap stocks. Forbes Business Development Council is an invitation-only community for sales and biz dev executives. Do I qualify?