Byju’s founder hits back at 'fugitive' claims: 'We built in India'

Byju Raveendran, founder and CEO of embattled ed-tech company BYJU's, has denied allegations of being a "fugitive," calling them part of a “fake narrative” and a “malicious media campaign.” He claimed these narratives were created to wrest control of the company.

In an exclusive interview with ANI, Raveendran accused US-based lenders of damaging the company’s reputation, which he said had a cascading effect on all stakeholders and investors. He further alleged that these entities tried to create “prejudice” in Indian courts by labeling him and his brother as fugitives.

“These are narratives they created to take control of the company. Unfortunately, in a company built on the founder’s name, tarnishing that name has a direct impact on valuation. They overplayed that strategy, and it ended up hurting all stakeholders — including themselves. This was a game played wrong by a few vulture lenders based in the US. They created this to influence Indian courts by calling us fugitives and issuing lookout notices,” Raveendran said.

Raveendran has publicly acknowledged BYJU's steep decline and vowed to rebuild the business. Once valued at $22 billion, BYJU’s has been hit by financial difficulties, regulatory scrutiny, and multiple legal disputes.

The BYJU's founder also addressed the Enforcement Directorate’s (ED) probe, saying the inquiry was directed at the company, not him personally.

“We were traveling to India as required, using Dubai as a base for international operations. These are all fake narratives. The only truth is that there was an ED inquiry related to the company — not personal. That investigation is now closed and has moved to the adjudication stage.”

Commenting on reports of ED lookout notices against him, Raveendran blamed media misinformation. He said the ED would not publicly announce such notices, as it would defeat their purpose.

“I traveled to India even after the ED inquiry started. If the ED had issued a lookout notice, they wouldn't have made it public. That’s not how it works. The investigation was about Think & Learn’s transactions. Other than a few missed filing timelines, there was no Prevention of Money Laundering Act (PMLA) case. No charge sheet. I responded to the summons and cooperated fully. The investigation is now closed. The media blew it out of proportion.”

Denies any official mention of ‘fugitive’ status

Raveendran also dismissed the use of the term "fugitive," saying it was never officially documented and was only used verbally as part of a smear campaign.

“Our entire company and wealth were built in India. Taxes were paid in India. We have nothing outside the country. This is a creation of vested interests. If you look at the filings and court documents, the word ‘fugitive’ is not mentioned anywhere. It’s just part of a malicious media campaign.”