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.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.Our Standards:
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