Emabattled edtech major BYJU’S founder Byju Raveendran addressed the company’s struggles and multiple legal woes it faces in a LinkedIn post.
He said that US lenders — Glas Trust — and the resolution professional appointed for the company have ‘destroyed’ the company.
- Also read: BCCI-Byju’s settlement: NCLAT directs NCLT to decide on the matter within a week
“Me and several employees received a document with conclusive evidence of criminal collusion between EY India, which I otherwise held in high regard, GLAS Trust, which claims to represents the 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.
businessline couln’t verify the genuinity of the post.
He added that a thorough investigation will reveal the truth about the matter.
“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 in our company. You probably know me as the man who built BYJU’S. But I am also the man who sold his house and mortgaged his family’s future,” Byju wrote on LinkedIn.
- Also read: SC sets aside NCLAT order halting insolvency proceedings against Byju’s
He also asked people to reach out if they wanted to be a part of the ‘comeback.’ “To all BYJUites, past and present, I have just one message: stay strong, stay proud. Forgive me for my mistakes. We will be back stronger than ever before,” he signed off.
This comes at a time when Byju’s parent Think & Learn’s committee of creditors (CoC) passed a resolution to replace the resolution professional and appoint Shailendra Ajmera as the new RP, Glas Trust told the National Company Law Tribunal (NCLT).