Byju's, the renowned Indian edtech giant, is currently facing scrutiny and inspection by regulatory authorities over alleged corporate governance lapses, CNBC-TV18 reported on Friday.
The finance ministry has acknowledged multiple instances of corporate governance lapses at Byju's, as reported by a television channel.
This revelation comes on the heels of Deloitte and three board members severing ties with Byju's amid an escalating legal battle with lenders and a significant decline in its valuation, according to some investors.
In addition, Redwood Management is being sued by lender Byju's because of a dispute the company is having with lenders who accuse the business of hiding $500 million.
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