US lenders’ representative Glas Trust rejects Byju Raveendran’s allegations of fraud, collusion

Glas Trust, representing US lenders of $1.2 billion to Byju's, denied allegations of collusion and fraud by founder Byju Raveendran, calling them baseless. Raveendran filed a police complaint against Glas Trust and others amid ongoing insolvency proceedings. Lenders also sued Raveendran and associates for misappropriating $533 million from loans.