Mumbai: Byju Raveendran, founder of edtech startup Byju’s, allegedly tried to convince his US-based business associate William R Hailer to leave the country so he could skip appearing in court to testify about Raveendran’s involvement in dubious activities.
“On Nov 20, Byju arranged a ticket for me to Dubai on Emirates out of Chicago, Illinois to avoid testifying and to be out of the country as an excuse if required to testify,” Hailer said in his declaration to a US court earlier this week which has been reviewed by TOI.
Hailer said that after Raveendran learnt of the court filing where he was listed as a witness, he showed “grave concern” about the fact that Hailer might testify. Byju’s declined to comment.
Hailer, CEO of consulting services firm Rose Lake, was introduced to Raveendran in 2023 through a mutual connection. He had shown interest in acquiring Byju’s unit Epic, which has now been placed under bankruptcy and under the management of a court-appointed trustee.
Last year, Byju’s had put Epic on sale to raise funds and repay its lenders but the process didn’t materialise. Rose Lake was eventually offered a proposition by Raveendran to buy the $1.2 billion term loan B which is at the heart of the startup’s dispute with its lenders who have alleged that Byju’s has hidden $533 million in loan proceeds extended to the firm. “The top priority was for RL (Rose Lake) to buy term loan B,” Hailer said, referring to his conversations with Raveendran.
