The Byju’s money trail: How missing millions may have reached India from Singapore

When US lenders to Byju’s filed a petition in a Delaware bankruptcy court last month, they offered the clearest account yet of what happened to $533 million out of the $1 billion term loan B proceeds—money the lenders have long described as missing and which founder Byju Raveendran had maintained as “safe” and “available.” According to sworn testimony submitted by a former intermediary, most of the missing funds were transferred in 2022 into Byju’s Global Pte Ltd, a Singapore entity wholly owned by Raveendran, the founder of Think & Learn Pvt. Ltd, the parent company of Byju’s—once India’s largest education technology company, now undergoing bankruptcy proceedings.