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.
Also read | More trouble for Byju’s as three board members, auditor Deloitte resign
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.
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.
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