The creator of Think & Learn, the firm that owns Byju’s brand, Raveendran Byju, accused a few foreign investors of holding up the company’s comeback.
Following a conversation with the founders, the former creator of Think & Learn, which is the owner of Byju’s brand, Raveendran Byju, accused a few foreign investors of holding up the company’s comeback by reorganizing the board, delaying financial results, and resolving the liquidity crisis by rejecting the USD 200 million rights issue.
SBI chairman Rajnish Kumar and former Infosys chief financial officer Mohandas Pai have chosen to step down from their positions on the advisory council of Think & Learn, the edtech company announced on Sunday.
In order to help the edtech company overcome its current issue and strengthen its governance, Think & Learn established the advisory council in July 2023. “Our engagement with Byju’s as advisors was always on a fixed-term basis for a year.” It was decided unanimously not to prolong the advisory council’s term after our conversations with the founders.” Even after the official engagement has ended, the company’s founders are always welcome to contact us for guidance. In a joint statement, Kumar and Pai wished Byju’s founders all the best in the future.
The contract is expected to expire on June 30, 2024. Byju’s stated that it cherishes the advisers’ involvement and is very grateful for all of their efforts in helping the company get through difficult times. “Over the past year, Rajnish Kumar and Mohandas Pai have given me invaluable support. Our plans have been delayed by a few foreign investors’ ongoing lawsuits, but I myself am directing the rebuild, and I will be relying on their advice,” Raveendran stated.
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