Byju Raveendran, the founder of Byju's, is accused of using concealed loan proceeds to regain control of his bankrupt education technology firm.

These funds were allegedly kept hidden from US lenders and were intended for a secret acquisition of a software company that was under the control of an American trustee.

Byju's is currently under court supervision in both India and the United States, where many of its key assets are located.

The allegations were revealed in a recent court filing by William R. Hailer, a businessman from Nebraska, highlighting the ongoing challenges faced by the company during its financial turmoil.