Govt expedites inspection of crisis-hit Byju's books amid growing troubles
Byju's and submit the report, a senior official said on Monday as trouble continues to brew at the edtech firm. The ministry, which is implementing the companies law, will decide the further course of action after receiving the report from its regional office.
In July 2023, the ministry had asked the office of the Regional Director in Hyderabad to conduct an inspection of the company Think & Learn Pvt Ltd, which is registered in Bengaluru.
Think & Learn Pvt Ltd operates under the brand BYJU'S.
On Monday, the senior official said the ministry has sought to expedite the inspection and submission of the report with respect to BYJU's.
Specific details about the inspection could not be immediately ascertained.
Last year, the minister ordered the inspection in the wake of various developments at that time at the edtech company, including its inability to finalise the statements and resignation of auditor.
The Institute of Chartered Accountants of India (ICAI) is also looking into the financial disclosures made by the edtech firm for certain financial years.
ICAI President Ranjeet Kumar Agarwal, last week, said the case is under process.
On February 23, shareholders of BYJU'S voted unanimously for removing founder CEO Byju Raveendran and his family members from the board over alleged «mismanagement and failures» at what was once India's hottest tech startup.
However, the company had called the voting done in absence of founders as invalid and ineffective.
Founder CEO Raveendran Byju, his wife and brother — the
