BYJU'S Under Scrutiny: Ministry Proceeds with Ongoing Investigation

The Ministry of Corporate Affairs stated that its investigation into edtech company BYJU'S is ongoing. Reports suggesting that BYJU'S has been cleared of any financial fraud are factually incorrect. The ministry had ordered a review of the company's books following multiple developments, including an auditor's resignation.

The Ministry of Corporate Affairs has confirmed that the investigation into edtech giant BYJU'S remains ongoing, dismissing rumors of the company being cleared of financial fraud.

The ministry initiated an inspection late last year due to several issues, including BYJU'S failure to finalize financial statements and an auditor's resignation.

In its recent statement, the ministry stressed that no conclusions should be drawn at this stage, as the proceedings under the Companies Act, 2013, continue.

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