Byju's ex-director fined $10,000 per day over missing $533 million

A suspended director of the troubled Indian educational tech firm Byju’s must pay $10,000 a day until he helps locate $533 million that his company is accused of hiding from US lenders, a judge said Wednesday. Riju Ravindran, brother of Byju’s founder, has been at the center of a nearly two-year-old fight over the missing cash, which lenders say should be returned to them after the company defaulted. Ravindran is one of three directors of Think & Learn Pvt. — which operates the Byju’s brand — who were recently replaced by a trustee as part of an involuntary bankruptcy case filed in India, according to US court documents. After imposing the sanctions on Ravindran, US Bankruptcy Judge Brendan Shannon also rejected a request to put the US debt fight on hold so Ravindran and the company could find new lawyers. American lawyers for Ravindran and Byju’s units want to quit defending their clients in the bankruptcy dispute, blaming “an irreparable breakdown.”