BYJU's Legal Battle: $2.5 Billion Suit for Reputation Recovery

BYJU's, the embattled edtech giant, finds itself in the throes of a significant legal confrontation as its founders prepare to initiate a hefty lawsuit. Byju Raveendran and Divya Gokulnath are set to file legal claims of more than USD 2.5 billion against Glas Trust and others, citing reputational damage and business harm, according to their legal counsel's statement on Thursday.

Legal counsel Lazareff Le Bars Eurl, led by Senior Litigation Advisor J Michael McNutt, stressed the founders' intent to pursue legal action vigorously in both domestic and international courts. Allegations have already been levied within India, targeting Glas Trust—a former subsidiary now asserting control over BYJU's parent company, Think & Learn—and other related parties.

Anticipating the pursuit of additional claims across multiple jurisdictions, McNutt articulated that monetary demands exceeding USD 2.5 billion are forthcoming. In a related development, the American lender's agent, Glas Trust, has instigated insolvency proceedings against Think and Learn, complicating BYJU's operational landscape.

(With inputs from agencies.)