Qatar fund moves High Court to seize Byju's assets
Mumbai, Aug. 26 -- Adding to edtech founder Byju Raveendran's mounting legal woes, Qatar Investment Authority (QIA) has moved the Karnataka High Court, seeking enforcement of a $235 million (approximately Rs.2,060 crore) arbitral award against him and his investment vehicle Byju's Investments Pte. Ltd (BIPL), along with more than $14 million (Rs.123 crore) in interest.
The petition, filed on 12 August by QIA's subsidiary Qatar Holding LLC, "seeks enforcement of the award as a decree of court, and issuance of an injunction against transfer of assets by Raveendran or BIPL, along with attachment / sale of their immovable and movable assets in India," QIA said in a press release.
In simple words, QIA has asked the Karnataka HC to treat the arbi...
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