BYJU founder Byju Raveendran plans to file a $2.5 billion defamation lawsuit against the company’s lenders, Glass Trust and a resolution expert. He claims they worked together to falsely accuse him of diverting $533 million from BYJU’s Alpha.

Raveendran says he now has new evidence showing that the entire $533 million was properly routed through different entities and eventually ended up in BYJU’s parent company Think & Learn, where it was used for expansion. He says this proves the allegations against him are false.

This comes after a US court ordered him to pay $1.07 billion for not cooperating in the case. Raveendran says the decision is unfair and he will take legal action against those he believes have damaged his reputation.