Byju Raveendran allegedly asked the US ally to flee before testifying

Byju Raveendran has reportedly asked Nebraska businessman William Hailer not to testify in federal court about the former’s efforts to regain control of BYJU-owned Epic!

In his testimony before US Bankruptcy Judge John T Dorsey, Hailer claimed that Raveendran sent him a plane ticket to Dubai two days before he was scheduled to appear in court in Delaware.

Earlier, Hailer accused Raveendran of using money he allegedly hid from BYJU’S creditors in the US to buy Epic! creation

BYJU’S founder Byju Raveendran has reportedly asked Nebraska businessman William Hailer not to testify in federal court about the former’s efforts to regain control of Epic!, a US subsidiary of the edtech company.

In his testimony before US Bankruptcy Judge John T Dorsey on Thursday (November 21), Hailer claimed that Raveendran sent him a plane ticket to Dubai two days before he was scheduled to appear in court in Delaware. Bloomberg reported, citing court records.

The businessman further claimed that the BYJU’S founder also offered him a job that paid $500,000 on the condition that he go to Dubai and start working.

“He (Byju Raveendran) asked me not to testify. He said I should come to Dubai and said the salary will start from the first day,” Hailer said in his testimony.

It is pertinent to mention that Hailer has accused Raveendran of using money he allegedly hid from BYJU’S creditors in the US to buy Epic! creationwhich is currently held in bankruptcy proceedings.

Hailer allegedly claimed that Raveendran “manipulated” him to obtain loans worth more than $1.2 billion from BYJU’s American lenders.

Raveendran would have wanted to trade that debt for buy Epic! creations, which became a subsidiary of BYJU’S after a 2021 acquisition, but the plan fell through.

This came following reports that the National Company Law Tribunal (NCLT) blocked Aakash, a subsidiary of BYJU’S, from changing its status (AoA)a move that thwarted Raveendran’s alleged plan to dilute his stake in the firm

Earlier this month, the Board of Control for Cricket in India (BCCI) moved NCLT to withdraw its insolvency claim against BYJU’S.

In October, the Supreme Court set aside the judgment of the National Company Law Appellate Tribunal (NCLAT) which had sanctioned a settlement worth INR 158 Cr between the Board of Control For Cricket in India (BCCI) and BYJU’S.