‘I am the Byju...I am here now’: Byju Raveendran goes nuclear, alleges massive conspiracy to sabotage BYJU’S

Byju Raveendran, founder of the beleaguered edtech giant BYJU’S, has come out swinging against what he calls a coordinated effort to bring down his company.

In a rare public statement, he accused the consulting firm EY India, GLAS Trust, and the court-appointed interim resolution professional (IRP) of acting in concert to undermine BYJU’S.

Explosive Allegations

Raveendran’s accusations surfaced in his first-ever LinkedIn post, where he claimed to have obtained "conclusive evidence" of misconduct by the three entities. Without disclosing specifics or even divulging the manner in which the alleged misconduct was carried out, he urged authorities to investigate, asserting that the truth must come to light.

“Several employees and I received a document that exposes clear criminal collusion,” he wrote. “EY India, which I once respected, GLAS Trust, which falsely claims to represent lenders, and the IRP, who was supposed to safeguard BYJU’S but instead accelerated its downfall—each has played a role in this.”

His statement today has actually added a new layer of intrigue to the ongoing turmoil at BYJU’S, a company that once commanded a valuation of $10 billion but is now mired in financial and legal crises.

A Battle on Multiple Fronts

BYJU’S is currently locked in a bitter struggle over a $1.2 billion term loan while also navigating insolvency proceedings. Adding to its woes is a dispute with the Board of Control for Cricket in India (BCCI) over a defaulted ₹158.9 crore sponsorship payment.

Although BYJU’S and BCCI recently reached a settlement, GLAS Trust objected, alleging that funds had been misallocated. The Bengaluru bench of the National Company Law Tribunal (NCLT) has now directed BCCI to present the settlement to the Committee of Creditors (CoC), a decision that could determine whether BYJU’S can stave off insolvency.

Raveendran’s Personal Gamble

Amid allegations that his family personally profited from BYJU’S, Raveendran took a defiant stance, insisting that every rupee earned had been reinvested to keep the company afloat.

“You’ve heard that my family made a fortune selling shares. But what you haven’t been told is that every bit of it went back into the company,” he stated. “I even sold my house and mortgaged my family’s future to protect what we built.”

Despite the company’s troubles, he asserted in his statement that BYJU’S will bounce back. “Every setback is just a setup for a greater comeback,” he wrote.

A Long Silence Ends

Acknowledging that he had kept quiet for too long, Raveendran signalled a shift in approach, promising to engage more directly with employees and stakeholders.

“I am the Byju of BYJU’S, and I am here now. I should have spoken sooner,” he admitted.

As the company fights for survival, Raveendran’s message was clear—he is not backing down. “From now on, you will hear it directly from me. Forgive my mistakes—we will come back stronger than ever.”

Whether his words will be enough to rally employees and investors, however, remains to be seen.