Govt ordered inspection of Byju’s last week: Report

Deloitte and three board members of Byju's severed ties with the company on Thursday amid an escalating legal battle with its lenders and its plummeting valuation in the eyes of some investors.

Corporate affairs ministry ordered an inspection of edtech startup Byju's last week, a news report said. (Photo: Reuters)

Listen to this article

00:00

1x 1.5x 1.8x

India’s corporate affairs ministry ordered an inspection of edtech startup Byju’s last week, CNBC-TV18 reported on Friday, citing sources.

The ministry has taken cognizance of various corporate governance lapses at Byju’s, the television channel reported.

Byju’s did not immediately respond to Reuters’ requests for comment, while the finance ministry did not respond to a message sent before office hours.

Story continues below this ad

The report comes a day after Deloitte and three board members of Byju’s severed ties with the company amid an escalating legal battle with its lenders and its plummeting valuation in the eyes of some investors.

Byju’s is also locked in a dispute with lenders, who allege the company hid $500 million, leading it to sue lender Redwood Management.

‘Don’t give a sh*t’: JD Vance defends US airstrike on Venezuelan drug boat that killed 11

World4 hr ago

Vice President JD Vance stands by the recent US airstrike against a Venezuelan drug-smuggling boat, dismissing legalistic arguments. President Trump also supports the strike and warns others against bringing drugs into the US. The administration has designated Tren de Aragua, a Venezuelan gang, as a foreign terrorist organization and plans to use military force against them.

View all shorts

Live Blog