Byju Raveendran reiterated claims that he had been framed for fraud on Wednesday — sharing a new video to underscore his assertion. The remarks came mere weeks after a judge ruled that his eponymous ed-tech start-up had fraudulently transferred more than $500 million to a ‘sham’ hedge fund. Byju’s has seen a staggering fall from grace in recent years and remains in the midst of a protracted legal battle.
“Those who sued us CAUGHT on video conspiring to create FALSE fraud claims. Their lies end now. Watch this video where they say there’s NO FRAUD done by me but they have to make it look like there’s fraud,” Raveendran wrote on X.
He also shared a short clip that appeared to be taken from an online meeting to discuss the ongoing legal battle. One individual on the call can be heard stressing the need to make the fraud allegations “a little more specific” and noting that they did not currently have “direct evidence of material”. Neither Raveendran nor the company were identified by name in the short, undated clip.
“The idea of putting those allegations in the draft was to show the shareholders what an ideal petition should look like. But obviously we won’t retain a lot…a large amount of the allegations if we’re not able to substantiate it with demonstratable proof. Having said that, we will still use language and submission which will indicate fraudulent behaviour on the part of the management…” another individual (identified on the video call as Shankh Sengupta) can be heard responding.
Raveendran had also appeared before the National Company Law Tribunal earlier in March as it heard an appear against a NCLT Bengaluru decision that blocked the withdrawal of insolvency proceedings against the company. The case revolves around The case revolves around a settlement between Byju’s parents company Think & Learn Pvt Ltd and the Board of Control for Cricket in India. BCCI had initiatived the insolvency process over unpaid sponsorship dues of Rs 158 crore in July 2024.