Byju Raveendran, the founder of cash-strapped BYJU'S, has denied allegations of negotiating with government officials to make "substantial unofficial payments" to resolve Foreign Exchange Management Act (FEMA) disputes. The claims were made by GLAS Trust, which represents US lenders who had given BYJU'S $1.2 billion in term loans. Byju is preparing to file a $2.5-billion suit against GLAS Trust.