Byju's US-based subsidiary has sued its parent company, its founder Byju Raveendran, co-founder, wife, and advisor, for an alleged theft of $533 million.
Byju Raveendran recently announced filing an FIR against Pankaj Srivastava, Glas Trust, along with a few EY employees, alleging being framed for fraud.
Byju Raveendran reiterated claims of being framed for fraud, sharing a video from an online meeting of stakeholders discussing the ongoing legal battle.
Byju Raveendran assured an employee that salaries left unpaid for three months would eventually be credited. He spoke out on social media after a long time.
Byju Raveendran took to his LinkedIn to reflect on his post urging to probe into the EY-Glas collusion and says although his last post was out of rage and resolve, he only feels love and gratitude now.
Byju Raveendran accused Glas Trust, the trustee for Byju’s US lenders, and the interim resolution professional overseeing the company of actively harming it.
Unacademy is discussing with the popular offline test preparation centre Allen Institute for a potential sale that could value the company at $800 Million.