This comes hours after reports suggested that the court imposed penalties on him for contempt after he refused to disclose or ascertain the location of $533 million in term loan proceeds
The US bankruptcy court has ordered financial penalties to be imposed on Riju Ravindran, with the specific amount to be decided in a subsequent hearing.
Byju's crisis: US Bankruptcy Judge John Dorsey, during a hearing in Delaware on Tuesday, said Ravindran failed to make a serious effort to find out what happened to the cash, as well as deceived the court.
Byju's woes worsen: Rajnish Kumar, Mohandas Pai to step down from advisory panel livemint.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from livemint.com Daily Mail and Mail on Sunday newspapers.