BYJU founder and CEO Byju Ravindran said that he is not a fugitive. He denied the fugitive allegations against him. Byju Ravindran said that this is part of a fake story, which is being run by a coordinator media and legal campaign to gain control of the troubled edtech company. In an interview to ANI, Ravindran said that some US-based lenders were behind the efforts to tarnish the company’s image. Byju said, ‘They have destroyed the value of the company in front of stakeholders, investors, employees and everyone.’ Byju Ravindran accused US-based lenders Byju Ravindran has accused US-based lenders of trying to create bias in Indian courts by calling him and his brother Riju Ravindran fugitives. Ravindran said that these are stories that they have fabricated in an attempt to gain control of the company. Tarnishing the name of the founder will affect the valuation of the company Ravindran said, ‘In a company that is built on the name of the founder. Or where the founder has played an important role in the initial years. They forget the fact that if you tarnish the name of the founder, it will have a huge impact on the valuation of the company.’ At one time the valuation of the company was $ 22 billion. Speaking further on the allegations of being declared a fugitive, Ravindran stressed that this claim is only a part of what he called a malicious media campaign. He clarified that the term was only mentioned verbally and was not included in any official documents. Our entire property and company is established in India Byju Ravindran said, ‘Our entire property and company is established in India. All the profits were earned in India, taxes were paid in India and investments were also reinvested in India.’ Also read these news… Byju’s falls from $22 billion to zero: Byju Ravindran said – We will rise again, will bring back old employees Byju Ravindran, the founder of debt-ridden edtech company Byju’s, has said that he will relaunch the company soon. Ravindran shared his old picture in a post on social media platform X and wrote, ‘We were broken, but not broken. We will rise again. I remember the shine in the eyes of my students.’ At one time Byju’s was the largest edtech startup in the country. By 2022, its value was $22 billion i.e., about Rs 1.88 lakh crore, but due to financial mismanagement and other problems, the company’s net worth became zero in 2024. Read full news… NCLAT rejects BCCI-Riju Ravindran’s plea: Had sought withdrawal of bankruptcy proceedings against Byju’s The National Company Law Appellate Tribunal (NCLAT) has dismissed the appeals filed by BCCI and Riju Ravindran. These appeals sought withdrawal of bankruptcy proceedings against Byju’s and consideration of a settlement between the debt-ridden edtech firm and the top cricket body. BCCI and Riju Ravindran had challenged the order passed by the Bengaluru bench of the National Company Law Tribunal. Riju Ravindran is the brother of Byju’s co-founder Byju Ravindran. Read full news…
