BYJU’s CEO Denies Allegations, Blames Malicious Media Campaign

BYJU's CEO Byju Raveendran refutes claims of being a 'fugitive,' attributing the narrative to a malicious media campaign by US-based lenders. He emphasizes the company's financial troubles were exacerbated by false accusations, asserting these allegations were not reflected in official documents.

In an exclusive interview, Byju Raveendran, the CEO of the embattled ed-tech giant BYJU's, addressed allegations of being a 'fugitive' as part of a 'fake narrative' orchestrated by US-based lenders. Accusing these lenders of a 'malicious media campaign,' Raveendran stated that the false accusations were aimed at taking control of the company and have negatively affected all stakeholders and investors.

Raveendran expressed that the company's valuation suffered significantly due to these targeted attacks. He noted the critical role he and his brother played in the company's establishment and spoke against the defamation efforts which he believes were intended to create prejudice in Indian courts. Despite low times, Raveendran promised to rebuild the company after its valuation descended from a peak of $22 billion.

The BYJU's founder also clarified that the Enforcement Directorate's investigation was company-centric and not personal. He refuted claims of lookout notices issued by the ED, questioning the authenticity of such media narratives, asserting there were no official charges filed against him, and stressing that the word 'fugitive' was absent from any legal documents.

(With inputs from agencies.)