In a LinkedIn post—his first since joining the platform—Raveendran claimed to have received “conclusive evidence” of wrongdoing and urged authorities to launch an immediate investigation. He did not share any further details about these allegations in the post, which remain unverified.
“Several employees and I received a document with conclusive evidence of criminal collusion between EY India, which I otherwise held in high regard, GLAS Trust, which claims to represent lenders it does not represent, and the IRP, who was appointed by an Indian court to protect BYJU’S but ended up destroying it,” he wrote.
“I am sure a thorough investigation of this evidence will reveal the truth. I request the authorities to take that up immediately,” he added, demanding a probe into the alleged collusion.Raveendran’s LinkedIn debut comes at a time when BYJU’S is embroiled in a complex legal and financial crisis. The company has been battling lenders over a $1.2 billion term loan, has seen key investors push for governance changes, and is dealing with an insolvency resolution process.
Raveendran pushed back against claims that his family had financially benefited from the company, stating that any wealth they accumulated had been reinvested to keep BYJU’S running.
“You have been told my family made a fortune by selling our shares. But that’s just half the story. You haven’t been told that all that ‘fortune’ has been put back into our company,” he wrote, adding that he had even sold his home and mortgaged his family’s future in a bid to keep the company afloat.
Raveendran framed the ongoing crisis as a temporary setback. “For me, every setback is just a setup for a greater comeback,” he stated.
Byju Raveendran ended with a message to employees, past and present, urging them to stay “strong and proud” and inviting those willing to help with a “comeback that will redefine resilience in Indian entrepreneurship.”
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(Edited by : Anand Singha)
First Published: Feb 28, 2025 8:32 PM IST
