One of the renowned Ed-Tech company in India, Byju's has been in the limelight due to its financial audits. The company on Sunday told investors that it will be filing 2022 audit by this year's September. Following to that, the 2023 results will be filed by December.
In addition, a few days back company's auditor Deloitte severed its ties with Byju's over "long-delayed" financial statements for the year ended March 2022. Alongside, a few of the board members representing several companies associated to the Byju's have stepped down without expressing the reasons publicly.
The company whose valuation in 2022 was $22 Billion has also brought several questions around corporate governance. Chief Financial Officer (CFO) Ajay Goel told the investors that Byju's will submit 2021-22 audited results to the regulators by this year's September and 2022-23's by year end, a close source said as per the news agency.
According to the reports , Byju's asked its three global investors to reconsider their decision to quit from the board.
According to the report, the unicorn company was climbing stairs of success during lockdown by providing online tutorials to children and offline coaching to engineering aspirants. Its valuation rises from $5 billion in 2020 to $22 billion in 2022.
In the recent times, Byju's have also laid off a thousands of employees with respect to downsizing and seeking cut costs.
