'I am not a flower, I am the fire': Byju Raveendran's Pushpa-style reply confirms FIR against EY, ex-resolution professional

BYJU’S founder Byju Raveendran channeled movie-style defiance on Monday with a dramatic post on X, confirming an FIR against former resolution professional Pankaj Srivastava and senior EY executives. Calling them agents of GLAS Trust—a group he branded "a collective of crooks"—Raveendran accused the parties of conspiring to derail BYJU’S insolvency process. His parting shot: "I am not a flower; I am the fire that will shatter GLAS."

"FIR filed against those involved in a criminal conspiracy against BYJU'S: Pankaj, the RP who illegally handed over the insolvency process to Dinkar, Rahul & Lokesh from EY who are the agents of GLAS, a collective of crooks. I am not a flower; I am the fire that will shatter GLAS," Raveendran wrote. The tweet, brimming with cinematic flair reminiscent of Allu Arjun’s “Pushpa,” marked a new flashpoint in the embattled edtech firm’s ongoing tussle with lenders and financial advisors. Raveendran alleged that the insolvency process was illegally transferred to EY personnel Dinkar, Rahul, and Lokesh, intensifying his public war with GLAS and its alleged collaborators.

The tweet follows weeks of intensifying scrutiny over the edtech unicorn’s financial troubles and the handling of its ongoing insolvency proceedings. While Raveendran confirmed the filing of an FIR in the tweet, it was his combative tone and direct accusations that drew the most attention online.

GLAS Trust, the company’s US-based lender representative, had earlier approached the National Company Law Tribunal (NCLT) seeking to recover ₹11,432 crore after BYJU’S defaulted on a $1.2 billion loan. The NCLT in June 2024 handed over financial control to the lenders, a decision Raveendran continues to dispute—partly over a parallel ₹158 crore arbitration involving the BCCI.

In recent weeks, whistleblower claims have emerged from within EY, alleging collusion with GLAS. A LinkedIn post suggested internal documents show misconduct that EY personnel allegedly overlooked or facilitated. The situation adds another layer to BYJU’S already tangled legal and financial crisis.

Raveendran also publicly challenged EY India Chairman Rajiv Memani, tweeting: "Is this fraud INDIVIDUAL or INSTITUTIONAL @Rajivmemani? If it's the former, you must suspend the culprits now… There are burning questions you must answer."

As the insolvency battle deepens, Raveendran’s tweet signals a more aggressive stance in defending his company. Sharing an image captioned "Broke, not broken," a few days earlier, he had sought to project resilience—even as the edtech giant faces what may be its most difficult test yet.