New Delhi. Byju’s, the company providing online education, seems to be facing increasing difficulties. The Ministry of Corporate Affairs of the Central Government has ordered an inquiry into all the books of Byju’s. An inquiry has been ordered against Byju’s, which once created a stir in the field of education technology, for delay in presenting its financial statements and not addressing the concerns of the Ministry of Corporate Affairs. According to the information, after paying attention to the case of Byju, the ministry decided to investigate its books and accounts. The company also did not finalize its financial statements. Whereas, Byju’s auditor firm had also left the company recently.
Byju Company is registered in Bangalore. For this reason, the Ministry of Corporate Affairs has ordered the regional director’s office in Hyderabad to investigate the books of Byju’s. After getting the report of the investigation, the central government will take necessary decision regarding Byju. The special thing is that about a week ago, Byju had said on similar reports that no inquiry has been ordered and the company has not received any government letter regarding the inquiry. Byju’s Company is run by Think and Learn Private Limited. This company was incorporated on 30 November 2011. The last annual meeting of the company was held on 19 September 2022. Auditing firm Deloitte had left Byju’s alleging delay in filing financial statements. At the same time, 3 members of Byju’s board also resigned.
Byju’s CEO is Byju Raveendran. He spoke on a call to his company’s shareholders in June. According to the information, Byju Raveendran had accepted the mistakes in the talk to the shareholders. He had also assured that such steps would be taken in every situation, so that Byju’s can be restored to its old glory. Byju Raveendran also said that he has learned a lot from mistakes. At the same time, last week Byju also appointed former State Bank chief Rajnish Kumar and IT veteran TV Mohandas Pai as its advisors.