Byju Raveendran, the founder of Byju’s, has lodged a police complaint against the former insolvency resolution personnel of the edtech platform’s bankrupt parent company, a trustee representing its US lenders and some employees of consulting firm EY.

“FIR filed against those involved in a criminal conspiracy against Byju's…” Raveendran wrote in a post on X, sharing a photo of the first information report. In his post, he accused the former resolution personnel, Pankaj Srivastava, of illegally handing over the company’s insolvency process to “Dinkar (Venkatasubramanian), Rahul (Agarwal) & Lokesh (Gupta) from EY who are the agents of Glas (Trust)”.

Raveendan had earlier urged the authorities to launch a “thorough investigation” into alleged collusion and fraud by Glas Trust that represents the US lenders, EY and Srivastava. A whistle-blower from EY India alleged that EY worked with Glas Trust and was appointed by Srivastava to assist him in handling the insolvency proceedings of Think & Learn, the parent company of Byju’s.

In a separate post tagging EY India chief Rajiv Memani, Raveendran wrote: “Is this fraud individual or institutional @Rajivmemani? If it's the former, you must suspend the culprits now. There are tons of proof that I will share. There are burning questions you must answer.”

EY, Srivastava and Glas Trust did not respond to ET’s emails seeking comment till press time Tuesday.

The matter is related to Byju’s insolvency and the case involving the alleged fraud raised by the whistle-blower is currently being heard by the National Company Law Tribunal (NCLT) and its appellate body. It came to light after the NCLT in February approved the appointment of EY employee Shailendra Ajmera as the new resolution professional, replacing Srivastava.

Raveendran’s lawyers had opposed the resolution passed by Think & Learn’s committee of creditors to appoint Ajmera as the resolution personnel.

Senior advocate S Guru Krishna Kumar, representing Raveendran, earlier argued that the corporate insolvency resolution process involving Think & Learn was vitiated by fraud.

The EY personnel brought in to facilitate the insolvency resolution process declared that they were independent and disinterested. “But then it turns out, from the material which has now come on record, that they were completely involved in the entire exercise,” Kumar argued.

In January, the NCLT directed the Insolvency and Bankruptcy Board of India to initiate disciplinary action against Srivastava, who was removed as the resolution professional after it was found that he had misled the tribunal.

Byju's is currently in the midst of insolvency proceedings, which began last year after the Board of Control for Cricket in India moved the NCLT to recover Rs 158 crore that it was owed by the company for a sponsorship deal.

Last August, the National Company Law Appellate Tribunal approved a settlement after Ravindran agreed to pay the money to the cricket board. However, in October, the Supreme Court quashed the appellate body’s ruling approving the settlement.