Byju Raveendran says 'I'm not flower, I'm fire' as he files FIR against...

BYJU'S founder Byju Raveendran took to X on Monday with a fiery statement confirming that an FIR had been lodged against former resolution professional Pankaj Srivastava and senior executives at EY. In a post laced with bold language and defiance, he accused them of colluding with GLAS Trust—a lender consortium he labeled as a “collective of crooks”—alleging they were working together to undermine the edtech company's insolvency proceedings.

"An FIR has been filed against those orchestrating a criminal conspiracy against BYJU'S—Pankaj, the RP who unlawfully transferred the insolvency process to EY’s Dinkar, Rahul, and Lokesh, all agents of GLAS. I’m not a flower; I’m the fire that will bring down GLAS," Raveendran posted, echoing the dramatic tone of a movie hero, reminiscent of Allu Arjun’s “Pushpa.” His words marked a sharp escalation in his ongoing conflict with BYJU’S lenders and their advisors.

This development comes amid intensifying scrutiny over BYJU’S financial struggles and the management of its insolvency case. Raveendran has consistently questioned the legitimacy of handing over financial control to the lenders—an action approved by the National Company Law Tribunal (NCLT) in June 2024, following the company’s default on a $1.2 billion loan. The lenders, represented by US-based GLAS Trust, are seeking to recover approximately ₹11,432 crore.

Further complicating matters, whistleblower allegations from within EY have surfaced in recent weeks. A LinkedIn post hinted at internal documents suggesting that key individuals within the firm may have turned a blind eye to—or even enabled—dubious practices involving GLAS.

Raveendran didn’t stop at the FIR. He publicly called out EY India Chairman Rajiv Memani, questioning whether the alleged misconduct was isolated or systemic: “Is this fraud INDIVIDUAL or INSTITUTIONAL @Rajivmemani? If it's the former, suspend those involved now… Serious questions need answers.”