Byju’s claims ‘certain investors’ are conspiring against company

Cash-strapped edtech firm Byju’s on Friday hit out at “certain investors” in an internal note addressed to employees, claiming that they are conspiring against the company and seeking the ouster of its founder Byju Raveendran at a time of crisis.

Byju’s is facing multiple challenges, including a cash crunch, delays in financial reporting and legal disputes with lenders.

“Certain investors, seeing the crisis we faced, saw it as an opportunity to conspire and demand the stepping down of our founder as the group CEO of Byju’s,” the company told employees in the note, a copy of which is with Business Standard.