Missing $533 mn used for legitimate purposes: Byju to US court

BYJU'S Founder Byju Raveendran has denied fraudulently transferring $533 million away from US lenders. He claimed the funds "were utilised for legitimate commercial purposes". "I never stated that 'the money is someplace the lenders will never find it'," he said in a court filing. The lenders have accused the startup of siphoning off money to offshore entities linked to Raveendran.