Byju Raveendran, who has been largely quiet throughout all the hardships that Byju’s has faced so far, has finally taken to LinkedIN to share his side of the story. Raveendran, who said that he could not issue a statement earlier as he was “busy building his company” added that he did not want to wait any longer for the truth to prevail. Raveendran said that he and other employees of his company had received proof of criminal collusion between EY India and GLAS Trust.
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“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. I am sure a thorough investigation of this evidence will reveal the truth. I request the authorities to take that up immediately,” said Raveendran in his post.
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While EY India is yet to respond to the allegations, Raveendran stated that this particular development was unfair. He also went on the dismiss a few other misconceptions that ere created about the company. “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. Everything that I ever owned has now been sold to keep our mission alive,” he said.
Amongst other troubles, Byju’s was also entangled in a complicated insolvency cases. “It’s not been easy. Today, I live with the guilt of putting my family through unimaginable misery. I live with the regret of not being able to fulfil the promises I once made to all my stakeholders. Trust me, we did everything in our capacity to stop the insolvency,” he added.
He also said that going forward, he would communicate directly with viewers. “From now on, you will hear it directly from me. Because direct action is how we built BYJU’S. Those who believe in me make me strong. Those who do not, make me stronger. As they say, you can never defeat someone who does not give up. 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 Reach out if you want to contribute to a comeback that will redefine resilience in Indian entrepreneurship,” said Raveendran.
