Indian Government Probes Financial Records of Edtech Giant Byju’s

  • After resignation of its auditor and three board members, the Indian Ministry of Corporate Affairs has demanded an examination of Byju’s financial records.
  • This probe, due within six weeks, could potentially be escalated to the Serious Fraud Investigation Office depending on the findings.
  • This issue compounds existing pressure for Byju’s: it’s currently renegotiating a $1.2 billion term loan after breaching debt agreements and is attempting to raise more than a billion dollars to overcome financial hardships.
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