INSUBCONTINENT EXCLUSIVE:
(Photo: Reuters)4 min read Last Updated : Oct 09 2024 | 8:28 AM ISTBy Steven Church and Jonathan Randles
A software company controlled by
Indian entrepreneur Byju Raveendran drained cash from US affiliates in violation of US bankruptcy rules, according to a lawsuit filed
Tuesday in federal court in Delaware.Click here to connect with us on WhatsApp
Money that should be used to repay creditors was instead
siphoned off to Whitehat Education Technology, a court-approved trustee for the affiliates said in court papers
The trustee, bankruptcy attorney Claudia Springer, sued to get back nearly $700,000 that was moved from entities under her control.
The
India.
When a company comes under court protection in the US, especially in the early days of a case, cash cannot typically be moved or
a company comes under court protection in the US, especially in the early days of a case, cash cannot typically be moved or used to pay
Published: Oct 09 2024 | 8:28 AMIST
