Byju’s Alpha accused of hiding $500 million from lenders

Lenders accused one of India’s hottest tech companies, Byju’s Alpha, of hiding $500 million as part of a fight between creditors and the self-proclaimed biggest education technology company in the world.

The allegation came out at a court hearing on Thursday in Delaware, where Byju’s Alpha faces a lawsuit over who should control the company. Lenders claim that because of a default earlier this year, they have the right to put their representative, Timothy R. Pohl, in charge.

The dispute is the latest setback for the high-flying startup founded by Byju Raveendran. Byju’s had already been working to appease creditors trying to restructure a $1.2 billion term loan when government investigators searched company offices in April.