A director of Indian tech firm Think & Learn Pvt faces financial penalties for defying a US judge’s order to find out where the troubled company stashed $533 million that jilted lenders say should go to them.
Riju Ravindran, the brother of company founder Byju Raveendran, not only failed to make a serious effort to find out what happened to the cash, but deceived the court, US Bankruptcy Judge John Dorsey said during a hearing Tuesday in Wilmington, Delaware.
“I conclude Mr. Ravindran’s testimony is not truthful,” Dorsey said. Ravindran either knows where the money is being hidden and won’t say, or he refused to find out, Dorsey said.
