The company had held back February salaries mid-March. It later paid a part of the dues. Byju's and its investors are involved in a dispute over the company's $200 million rights issue.
Two homes owned by Raveendran's family in Bengaluru and his under-construction villa in Epsilon the most exclusive gated community in the city were offered as collateral to borrow $12 million (approx Rs 100 crore)