Byju’s founders slam GLAS’ US lawsuit as ‘baseless’, time period it as a ‘conspiracy’

The founders of the embattled edtech agency, Byju Raveendran, had lately filed an FIR in opposition to the previous decision skilled (RP), a trustee representing US lenders, and sure EY workers.

“The allegations made by GLAS within the current lawsuit are fully baseless and unfaithful. This lawsuit is part of their conspiracy to wrestle management of BYJU’S by means of all doable nefarious means,” Byju’s founders stated in an announcement, which marks an escalation within the spat between the crisis-ridden edtech agency and GLAS Belief Firm, which represents sure lenders.

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The assertion by the founders additional alleged, “It’s nothing however yet one more cog within the wheel of lies that GLAS, the unlawful consultant of disqualified lenders within the US, has been rotating for a very long time now.”

The assertion additional accused GLAS of resorting to a technique of allegedly intimidating the founders and administration of Byju’s for the final two years revolving round submitting a “flimsy and frivolous lawsuit within the US” after which peddling it endlessly to “whitewash their felony and unethical actions in India”.

“A signed and verified affidavit that we submitted within the courtroom of Delaware has the main points of how the whole USD 1.2 billion mortgage was spent, to the final greenback. And but, that affidavit was conveniently ignored and GLAS has continued to lift the query of the so-called lacking USD 533 million repeatedly to mislead,” the founders stated within the assertion.