Divya Gokulnath, co-founder of the struggling edtech platform Byju’s and wife of CEO Byju Raveendran, has reported that her husband’s LinkedIn account was taken down. Gokulnath stated that a post from Byju’s, which called for a comprehensive investigation into alleged collusion and fraud involving its lender Glas Trust, consultancy firm EY, and former resolution professional Pankaj Srivastava, has also been removed. She shared screenshots of the post, expressing her determination: “Byju’s post and account taken down. Investigating why. But no problem. Here we go again.” As of the time of this report, both Byju Raveendran’s LinkedIn account and the post have been restored.
Gokulnath’s claims follow a recent ruling from a US bankruptcy court, which found Riju Ravindran, Byju Raveendran’s brother, and hedge fund Camshaft Capital guilty of a “fraudulent transfer” of $533 million and a “breach of fiduciary duty.” Riju, a co-founder of Byju’s parent company Think & Learn Pvt Ltd, served as the sole director of Byju’s Alpha Inc. from September 2021 to March 2023. This court action was initiated after a complaint from a consortium of lenders, Glas Trust, who accused Riju and Camshaft of fraudulent activities. The ruling is seen as a victory for creditors seeking to recover on a defaulted $1.2 billion loan extended to Alpha. The court determined that Byju’s had fraudulently transferred part of the funds to a small hedge fund in Miami to shield it from lenders.
On the same day, Byju Raveendran made a lengthy post on LinkedIn, where he had been inactive until then. He stated, “I am the Byju of BYJU’S, and I am here now. I should have been here sooner. But I was too busy building my company. Then I was too busy saving everything I built. I have long been wanting to connect with you directly. But I was waiting for justice to be done and truth to prevail.” He mentioned receiving a document that allegedly proves “criminal collusion” involving EY India, Glas Trust, and the appointed resolution professional, Pankaj Srivastava. Raveendran called for a thorough investigation into these claims, expressing confidence that it would uncover the truth. His post gained significant attention following a whistleblower’s allegations that EY India collaborated with Glas Trust and was appointed by Srivastava, although EY has denied these claims.