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An Indian tech firm, Think & Learn Pvt, faces penalties for concealing $533 million from lenders. Riju Ravindran, a director, failed to locate the funds, prompting US Bankruptcy Judge Dorsey to call his testimony dishonest. Despite no extradition treaty, fines loom. The dispute centers on creditors versus Think & Learn, embroiled in US courts.

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.

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.

This comes at a time when the company is fighting a number of legal battles with its stakeholders in the National Company Law Tribunal.

Shareholders' vote to oust edtech founder Byju Raveendran caps a remarkable fall for the former billionaire whose startup was once India's most valuable.

ED asked Bureau of Immigration to issue the look out notice to stop Raveendran from leaving India, said a report