(Bloomberg) -- A director of Indian tech firm Think & Learn Pvt faces financial penalties for defying a US judge’s order to find out where the troubled...
-- A director of Indian tech firm Think & Learn Pvt faces financial penalties for defying a US judge’s order to find out where the troubled company stashed $533 million that jilted lenders say should go to them. Riju Ravindran , the brother of company founder Byju Raveendran , not only failed to make a serious effort to find out what happened to the cash, but deceived the court, US Bankruptcy Judge John Dorsey said during a hearing Tuesday in Wilmington , Delaware .“I conclude Mr.
Ravindran, his brother and his sister-in-law are the only directors of Think & Learn, which operates under the name Byju’s, according to court testimony. Dorsey has repeatedly expressed frustration over the company’s refusal to say where the money is being held. Earlier this year the judge ordered the arrest of a hedge fund manager who helped Ravindran move the cash. That manager refused a court order to reveal what happened to the money, Dorsey found.
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