Public Statement on Litigation Concerning Think & Learn Pvt Ltd.
London (15 February 2026) – OCI Ltd (‘OCI’) and CEO Oliver Chapman announce the company’s retraction from all litigation pertaining to Think & Learn Pvt Ltd (Byju’s). The dismissal follows a motion filed to the U.S. Bankruptcy Court for the District of Delaware, by the creditor group of Byju’s Alpha, Inc. and GLAS Trust Company, LLC, asserting no basis to pursue claims against the company. OCI is no longer involved in any litigation or investigation regarding Byju’s and considers the matter closed.
Byju’s engaged OCI in 2021 to provide educational procurement services, prior to any concerns being raised around the enterprise and nature of its transactions. In keeping with the wider commercial community at that time, OCI had no cause to have any suspicions as to the integrity of Byju's management and business model. The company was onboarded as a client following industry-standard due diligence, in the context of Byju’s then acclaimed commercial standing, and with consideration to its blue-chip institutional relationships at the time.
Following irregularities, allegations of mismanagement were made by the creditor group. Though the collapse of Byju’s is not yet fully understood, the fallout and search for the location of approximately USD $533 million ('funds’) has affected many corporates and individuals across numerous jurisdictions. Those investigations led the creditor group to initiate litigation against multiple parties, including OCI.
OCI commissioned an internal investigation into its former relationship with Byju’s. After review of its findings, OCI provided the creditor group with critical information available to it. At present, OCI continues to cooperate in good faith with efforts to establish the relevant facts and assist in the tracing of the funds.
Byju’s creditors, of their own volition, submitted a public dismissal motion to the U.S. Bankruptcy Court on 15 November 2025, recanting their claim against OCI in its entirety. Any suggestion of wrongdoing on OCI’s part has been retracted, it being clear to the creditors that the OCI procurement programme was utilised as a passive intermediary, at the direction of the client, for the purposes of assisting the Byju’s entities. The creditor group also recognised the significant contribution and value provided by OCI throughout this matter, noting:
“The information and other consideration being provided by OCI and Chapman under the Settlement provides important value to the Debtor and its estate, including in unravelling the truth behind what happened to the Alpha Funds and holding wrongdoers accountable, all without further delay and expense. To that point, the Debtor has determined to discontinue further proceedings against OCI and that it has no basis to pursue a claim against Chapman. Claims against OCI and Chapman will be released.”
—BYJU’s Alpha, Inc., Debtor’s Motion Pursuant to Bankruptcy Rule 9019 for Entry of an Order Approving Compromise and Agreement Between the Debtor, GLAS Trust Company LLC, and OCI Limited, Case No. 24-10140 (BLS), Adv. Pro. No. 25-50822 (BLS), at Page 3 (Bankr. D. Del. Nov. 15, 2025).
DATED: November 15, 2025
FILED: United States Bankruptcy Court for the District of Delaware
MOVANT: Counsel for Debtor, BYJU’s Alpha, Inc.
YOUNG CONAWAY STARGATT & TAYLOR, LLP
Kenneth J. Enos
Robert S. Brady
Jared W. Kochenash
Timothy R. Powell
QUINN EMANUEL URQUHART & SULLIVAN, LLP
Benjamin Finestone
Kate Scherling
Jordan M. Nakdimon
APPROVED: January 23, 2026
JUDGE: Brendan Linehan Shannon, Delaware Bankruptcy Court, Chapter 11
OCI has been released of any responsibility in the case and all claims against the company have been discontinued, in full. It was not, and is not, suggested that OCI had any further knowledge or involvement whatsoever in the use of the funds beyond effecting the transfer as directed. Any suggestion to the contrary has been deemed to be false, defamatory, and damaging.
OCI has consistently operated in good faith, demonstrated transparency toward the rightful recovery of funds, and maintains confidence in procedural integrity. We are glad to receive the creditor’s confirmation and endorsement of having performed absolutely no wrongdoing or interference in our dealings with Byju’s. ”I and everyone at OCI remain committed to helping the creditor group recover their missing funds,” said Mr Chapman. “The creditors have commended our efforts in this important matter and thanked us for our commitment toward the recovery of funds. I take pride in our capabilities, our strong ethical compass, and the model example we aim to provided to others, worldwide.”
Adds Chapman: “I launched OCI in 2012 and, over the past 14 years, grew it into a global procurement company headquartered in London. We achieved the type of commercial success some can only dream of—whilst prioritising innovation, sustainability, and high ethical standards—before ever taking Byju’s on as a client. Our 2022 Financial Times FT 1000 rankings say it all: No. 1 fastest-growing company in the United Kingdom and No. 3 fastest-growing in Europe. I am proud of our track record, the relationships we built, the calibre of partners we worked with, and how we achieved success on their behalf.”
OCI values integrity, transparency, and continues to welcome fair enquiry about its business. For questions, email media@oci-group.co.uk.