Woman with ₹90k government job breaks down her monthly expenses: ‘It’s a bit less’A government employee has broken down her monthly expenses, explaining how she manages to survive in the national capital on just ₹25,000 per month Updated on: May 28
Foreigner ranks 'how safe she felt as a woman' travelling solo in different Indian states: '0/10 in UP, 9/10 in Kerala'After solo travelling in India for a year, a transwoman from NYC ranked states by safety. Her breakdown shows a sharp contrast between north and south India. Published on: May 28
Hezbollah said its fighters clashed with Israeli forces beyond an Israeli-declared "yellow line" in south Lebanon on Wednesday (May 27, 2026) despite a ceasefire, a day after Israel said it was expanding ground operations. Israel this week vowed to intensify operations in Lebanon
Samsung Electronics union members on Wednesday approved a deal with management securing massive annual bonuses, averting a major strike as the South Korean chip giant's profits soar due to booming demand for artificial intelligence tools. Under the agreement, around 78,000 employees
'How do you take risks with EMIs?' Gurgaon man’s post resonates with working professionalsA Gurgaon coffee shop conversation about startup dreams and monthly EMIs has become widely relatable online. Updated on: May 28, 2026 10:28 AM IST By Vaishali Kapila Share via Copy link Have you ever dreamed
Kerala HC orders personal appearance of BYJU'S RP, GLAS representative and EY India Chief in alleged contempt case
The Kerala High Court has summoned BYJU'S Resolution Professional, GLAS Trust, and EY India Chairman to appear on December 5, 2025. This is in connection with a contempt case alleging a fraudulent scheme to recover BYJU'S foreign assets. Allegations suggest a 'double-recovery architecture' and conflict of interest involving EY.
The Kerala High Court has directed the Resolution Professional (RP) of Think & Learn Pvt. Ltd. (BYJU'S), the authorised representative of GLAS Trust Company LLC, and the India Chairman of Ernst & Young LLP to personally appear before the Court on December 5, 2025, in connection with ongoing alleged contempt case concerning BYJU'S foreign assets.
The order was issued by Justice K. Natarajan on November 27, 2025.
The case arises from the High Court's earlier judgment dated May 21, 2025, which had restrained any transfer of BYJU'S key overseas subsidiaries such as Epic! Creations Inc. and Tangible Play Inc. (Osmo).
The petitioners allege that despite this protection, parallel bankruptcy actions and asset enforcement measures were initiated in the United States using the same Term Loan B (TLB) debt that GLAS is relying on in India, thereby violating the court's order.
A detailed counter affidavit filed on behalf of BYJU'S co-founder Riju Ravindran in the contempt proceedings places before the Court extensive material alleging what it calls a "fraudulent double-recovery architecture." It states that BYJU'S international subsidiaries Tangible Play, Great Learning, Byju's Alpha Inc., Epic!, and Tynker were acquired for a combined amount of nearly USD 1.42 billion and form the backbone of the company's global business.
Despite their central importance, these foreign subsidiaries were allegedly omitted from the Resolution Professional's Form G (Expression of Interest) dated August 25, 2025, and September 24, 2025.
According to the affidavit, the omission created a misleading and artificially diminished picture of BYJU'S asset position, suppressing value in the Corporate Insolvency Resolution Process (CIRP). At the same time, the affidavit alleges that GLAS pursued enforcement actions in the United States against these very subsidiaries under the Term Loan B (TLB) while maintaining its full admitted claim of ₹11,432.98 crore in India, thereby enabling an unlawful double recovery.
The materials presented to the Kerala High Court also raise serious conflict-of-interest concerns involving EY and the conduct of the insolvency process. Communications reproduced in the affidavit show, according to the petitioners, that EY's restructuring team was closely involved from the inception of the CIRP--advising on GLAS's claims, managing key communication channels such as the ip.byjus@outlook.com email used for collecting and verifying creditor claims, and vetting those claims. The affidavit alleges that EY failed to disclose its prior work for both BYJU'S and GLAS in its conflict-of-interest disclosures mandated by the Insolvency and Bankruptcy Board of India (IBBI). It adds that draft emails prepared by EY marked all conflicts as "NIL," despite earlier engagements with the parties. The appointment of the current Resolution Professional, Shailendra Ajmera, whose address is listed as Ernst & Young LLP's Worldmark Aerocity office, is also questioned as evidence that EY continued to exercise de facto control over the CIRP even after the initial Interim Resolution Professional was replaced.
The counter affidavit further seeks a set of directions from the Kerala High Court. It requests that the Serious Fraud Investigation Office (SFIO) and the Central Bureau of Investigation (CBI) be tasked with investigating the alleged fraud, collusion, cross-border value stripping, and concealment of foreign enforcement actions. It also seeks protection for BYJU'S foreign subsidiaries until these issues are resolved. Finally, it asks that the ₹158 crore personally contributed by Riju Ravindran toward a proposed settlement be placed in a court-monitored escrow account, with a mechanism for refund if the Committee of Creditors (CoC) or the National Company Law Tribunal (NCLT) do not act on the settlement proposal.
There has been no comment to the order so far from either EY India or GLAS Trust.
Add as a Reliable and Trusted News Source Add Now!
Source: EconomicTimes
Related Posts: Byju’s founder Byju Raveendran gets six-month jail term in Singapore Byju’s Founder Byju Raveendran Sentenced To 6 Months In Jail By Singapore Court SC stays Kerala HC order which directing Byju’s RP Kerala high Court Lifts Stay on 'the Kerala Story 2' Congress and Left unite to pass joint resolution against SIR in Kerala Byju Raveendran says settlement near after Singapore court contempt order Singapore court sentences Byju’s founder Raveendran to six months in jail PGTI launches franchise-based professional golf league How to create a personal learning road map and master new professional skills Australian speedster Kane Richardson retires from professional cricket
Oil prices have jumped after the US carried out new attacks on Iran, targeting a military site in Bandar Abbas, a strategic port city. The US Central Command (Centcom) said its forces also shot down four Iranian drones "that posed a threat around the Strait of Hormuz"
58 minutes ago
Novak Djokovic kept his quest for a record-breaking 25th Grand Slam title alive at French Open on Wednesday, battling past French wildcard Valentin Royer in four hard-fought sets. The Serbian star eventually sealed a 6-3, 6-2, 6-7 (7/9), 6-3 victory after nearly four hours on Court
58 minutes ago
Approximately 30 lakh beneficiaries of Lakshmi Bhandar, a cash transfer scheme for women implemented by the previous Trinamool Congress government, were ineligible for it, The Indian Express quoted West Bengal Chief Minister Suvendu Adhikari as saying on Wednesday
57 minutes ago
NTA adds new UGC NET June 2026 exam centres in North-East, improves accessibility, and allows candidates to revise city preferences during correction window till May 28. The National Testing Agency (NTA) has added new examination centres for the UGC NET June 2026 session across several
57 minutes ago
Step inside Umaid Bhawan, where Priyanka Chopra, Nick Jonas married: 'The last royal palace of India built in ₹1 crore'Designed by Henry Lanchester, the iconic Umaid Bhawan Palace was completed in 1943. It includes a royal residence, hotel, and museum. Updated on: May 28
56 minutes ago
MHT CET Answer Key 2026: PCM group second attempt provisional key out, raise objection till May 30MHT CET Answer Key 2026 has been released for PCM group second attempt. The direct link to download the provisional key is given here. Published on: May 28
58 minutes ago
The Israeli military has issued evacuation orders for large parts of southern Lebanon, declaring the areas "combat zones" ahead of fresh strikes against Hezbollah. The Israel Defense Forces (IDF) urged residents to move north of the Zahrani River, about 40km (25 miles) from the border
58 minutes ago
India's men's football team exited the Unity Cup 2026 semifinals after a 0-2 loss to Jamaica. Courtney Clarke scored early, and Kaheim Dixon sealed the win for Jamaica. India will now play Zimbabwe for third place. The match saw debuts for Noufal PN and Ricky Shabong
58 minutes ago
Ashoke Pandit, the chief advisor of the Federation of Western India Cine Employees, claimed in a statement that Ranveer Singh walked out of Don 3 just three weeks before flying out of the country for the shoot. The Federation of Western India Cine Employees banned Ranveer Singh amid his fallout
59 minutes ago
For years, youth was considered a natural shield against serious illness. But increasingly across urban India, doctors are witnessing a troubling shift: seemingly healthy young adults in their 20s and 30s are being diagnosed with conditions once associated with much older age groups, heart disease
59 minutes ago
Pat Cummins arrived with Plan A, B and C — Vaibhav Sooryavanshi destroyed all of them in 29-ball playoff madnessPat Cummins’ plans failed. Now it is over to Kagiso Rabada and Mohammed Siraj, two of the best new-ball bowlers this season. Updated on: May 28
57 minutes ago
In August 2025, I made it a point to meet with Anganwadi workers (AWW) across several villages within the Achanakmar Tiger Reserve to learn more about their experiences with the Poshan Tracker app. Among the six workers I met, only one used the app herself. Among the AWWs of Bamhni, Atariya
58 minutes ago
Ranbir Kapoor and Deepika Padukone starrer Tamasha released in 2015 and opened to mixed reviews and a lukewarm reception at the box office. Over the years, however, it attained a cult status. With Ranbir’s Ved defying the tropes of a Hindi film hero
57 minutes ago
"Dozen'Katal at Mankhurd, Deonar, Govandi.... in Housing Societies/Complexes. Bakri Eid Kurbani inspite of Markets/Shops Kurbani Places (designated places) available nearby areas. BMC Police must act," Somaiya posted on X. Mumbai: Bharatiya Janata Party () leader Kirit Somaiya on Thursday alleged
57 minutes ago
Forex traders say escalating US-Iran conflict is again boosting safe-haven demand for the dollar. The Indian rupee on Wednesday fell by 8 paise to trade at 95.78 per US dollar in the early trade. The local currency had opened at 95.60, which was 10 paise higher than the previous close
3 hours ago
Pakistan-linked module was planning recce of a party office in another state: UP ATSFour arrested from Saharanpur, investigators allege accused were tasked by Pakistani handlers to identify targets, recruit youths through video calls and expand sleeper-cell network across India Published on: May 28
3 hours ago
When she saw me walking into her home in Assam’s Barpeta district, Amina Begum attempted valiantly to get up from the bed. Her body shook as the 68-year-old tried – and failed – to raise herself. When I had visited Begum in June last year, she was not this infirm. She was walking
3 hours ago
Violence erupts as ED raids for Kerala CM Pinarayi Vijayan’s housesDuring the raids, top CPI(M) leaders and hundreds of party workers protested outside the homes of Vijayan in Thiruvananthapuram and Kannur. Updated on: May 28, 2026 7:33 AM IST By Vishnu Varma Share via Copy link The Directorate
3 hours ago
Love Horoscope Today for May 28, 2026: You may finally stop romanticising what was never truly aligned for youLove Horoscope Today: Find daily astrological predictions for all sun signs. Published on: May 28, 2026 7:34 AM IST By Kishori Sud Share via Copy link Aries Love may feel emotionally heavy
3 hours ago
Air India, IndiGo, Air India Express cut flights as fuel costs surgeOfficials also said Air India Express would reduce some domestic frequencies, though the impact would remain below 10%. Updated on: May 28, 2026 7:43 AM IST By HT Correspondent Share via Copy link Major Indian carriers
3 hours ago
The two factions of the All India Anna Dravida Munnetra Kazhagam on Wednesday withdrew disqualification petitions against each other’s MLAs, and reached a truce two weeks after the rift surfaced, the Hindustan Times reported. The rift had taken place after 25 AIADMK MLAs led by former ministers
3 hours ago
Can Uttar Pradesh’s power network handle growing load?Domestic, agriculture consumers remain the two biggest pressure points while industry and EV load is also growing in Uttar Pradesh Published on: May 28, 2026 7:46 AM IST By Brajendra K Parashar
3 hours ago
Delhi employee stunned after boss gifts him a brand-new SUV for his appraisal: ‘I was shocked’Speaking to Hindustantimes.com, a Delhi employee shared his shock at receiving a brand-new MG Hector SUV as a surprise appraisal gift. Published on: May 28
3 hours ago
Haier’s new Desert Rose AC comes with many tall claims like supersonic cooling, AI-driven energy savings and the ability to maintain performance even at 60°C ambient temperatures. The real question, however, is whether these features genuinely improve the day-to-day experience for everyday users
3 hours ago
The live-in personal assistant to Friends star Matthew Perry has been sentenced to 41 months in prison, capping a multi-year legal saga surrounding the actor's death. Kenneth Iwamasa, 60, who injected Perry with ketamine, worked with two doctors to provide the actor with more than $50
3 hours ago
TikTok appears to be experiencing a widespread outage with hundreds of users flagging issues with openig the popular social media app. According to outage tracking website Downdetector, reports of issues with TikTok spiked sharply around 6 AM ET in the United States on May 28
3 hours ago
Laid-off Webflow employee calls out CEO: ‘Locked out of laptop, didn’t get email’A Webflow employee has called out the company’s CEO over the way in which she handled layoffs, claiming he did not receive an email about his termination Updated on: May 28
3 hours ago
