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New Delhi: BYJUS founder Byju Raveendran and his wife Divya Gokulnath have made several statements for the companys lenders. They shared these views in a podcast with ANI. In this Raveendran mentioned that some vulture lenders are trying to take control of their company. He made this remark concerning loan defaults layoffs and aggressive sales. Divya Gokulnath shared several insights about the company as she stated “We are made for classrooms not courtrooms.” Several lenders have filed lawsuits against the company regarding loan defaults. The NCLT (National Company Law Tribunal) has initiated insolvency proceedings against Think and Learn the parent company of Byjus which was once the most valuable startups in the country but is now on the brink of bankruptcy. This action was taken based on a petition from the BCCI (Board of Control for Cricket in India) which accused the company of failing to repay outstanding dues of Rs 159 crores. The companys value has plummeted to zero. A few years ago Byjus was valued at $22 billion making it the most valuable startup in the country but today it is worth nothing. The company made a few decisions in recent times that backfired. Byjus is currently burdened with heavy debt. Additionally the company is undergoing regulatory scrutiny and has delays in its financial reporting raising questions about its financial condition and transparency. At present the company is grappling with a bankruptcy crisis. According to Baiju Ravindran who lives in Dubai since the company faced a crisis in December 2021 investors have not made any investments. Some investors including Prosus have not invested in the company for the past 4-5 years. This crisis started due to a cash shortage. Currently the company is bogged down by various troubles. Several creditors have dragged it to the NCLT (National Company Law Tribunal). Employees are also not being paid salaries. These reasons have fuelled rumours that Baiju Ravindran has fled to Dubai to avoid action. Baiju Ravindran and his wife Divya Gokulnath are entangled in a court case. The companys American lenders have filed a case against Baiju Ravindran his wife and a top company official in the U.S. bankruptcy court. The company is accused of misappropriating over 500 million dollars. The lenders have been trying to recover money on 1.2 billion dollars of defaulted loans for several years. Baiju Ravindran and Divya have denied any wrongdoing.