"The passion doesn't cover the expenses: Byju Raveendran faces criticism from former employees who have been waiting for their salaries for months."

Byju Raveendran, the founder of Byju's, expressed in a lengthy post his regret for failing to meet the expectations of students, employees, and other stakeholders. He acknowledged that he was too busy building and then trying to save the company he had created. He clarified that, although it has been mentioned that his family benefited from stock sales, a large part of that fortune was reinvested in the company. Raveendran admitted to having sold his house and mortgaged his family's future, stating that everything he owned has now been sacrificed to keep Byju's mission alive. He lives with the guilt of having caused suffering to his family and with the regret of not being able to fulfill his promises.

The founder emphasized that Byju's has always sought real impact rather than media hype. He sent a message to everyone who has been part of the company, urging them to stay strong and proud. He concluded his post with an apology and a promise that they would come back stronger than ever, asking for support for a comeback that redefines resilience in entrepreneurship in India.

However, many current and former employees are not convinced by his words. A former employee from the company's Brazil operations commented on their long working hours leading up to the closure and is still waiting for owed salaries and other pending payments. Other former employees also expressed frustration at not receiving compensation, even after Raveendran's statements about paying off debts. Despite his promises of payment, former employees pointed out that "eventually" doesn’t help cover their immediate needs.

In another related event, a U.S. court has implicated Riju Raveendran, a dismissed manager of Byju's, and Byju Raveendran in a fraud case targeting investors. Reports suggest that the court found that several fund transfers from Byju's Alpha were fraudulent.

The company's current situation remains complicated, with unanswered questions about when employees will finally receive their overdue salaries.