Skip to content
Friday, June 19
  • About Us
  • Contact Us
  • Advertise with us
  • Login
  • Add Post
  • Account
  • Dashboard
International Media News

International Media News

International Media News

International Media News

International Media News

  • Home
  • India
  • World
  • Business
  • Entertainment
  • Sports
  • Editors choice
  • Gallery
    • Image
    • Video-gallery
  • Home
  • India
  • World
  • Business
  • Entertainment
  • Sports
  • Editors choice
  • Gallery
    • Image
    • Video-gallery
Home>>Business>>Byju’s Auditor BDO Resigns Following Bankruptcy Proceedings, Company Reports
Business

Byju’s Auditor BDO Resigns Following Bankruptcy Proceedings, Company Reports

international media news
September 9, 2024 74 Views0

Byju’s, the Indian education technology giant has announced that its auditor, BDO Global has resigned. The decision came after the company failed to provide the necessary documents following the start of insolvency proceedings, Byju’s said on Saturday. This marks another challenge for the startup as it navigates ongoing financial difficulties.

 

The Edtech firm is currently facing multiple challenges, including insolvency proceedings and a 1 billion dollar claim from US-based Glas Trust. BDO’s resignation follows the exit of its previous auditor, Deloitte, who speed down over a year ago due to concerns about Byju’s financial reporting.

 
 

In a letter sent on Tuesday, BDO Global stated that despite “inordinate” delays in submitting financials for the year ending March 2023, Byju’s management did not provide enough support to complete the audit.

“We have reasons to believe that the management of the company lacks transparency with respect to providing full information to the auditor for their consideration and evaluation,” According to the letter seen by Reuters, BDO stated its concerns.

Byju’s explained that it couldn’t provide the requested documents because BDO had asked the company’s suspended board due to the insolvency proceedings. The edtech firm stated that the letter should have been addressed to the insolvency professional managing the company at that time.

 

In an email to the board, BDO stated it had requested a thorough forensic review of transactions related to a Dubai-based subsidiary. The auditor did not respond to inquiries about its resignation on Saturday.

Byju’s has requested a forensic audit of BDO’s resignation by the insolvency professional appointed by an Indian court. Once valued at 22 billion dollars in 2022 and backed by General Atlantic, Byju’s has faced a sharp decline due to regulatory challenges and a recent dispute with U.S. banks over 1 billion dollars in unpaid dues, leading to its insolvency and an asset freeze.

Share:

Previous Post

Kriti Sanon Balances Intense 16-17 Hour Workdays For Films ‘Do Patti’ And ‘Crew’

Next Post

3 Israelis Killed In Shooting Near Jordan Border, Gunman Shot Dead

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent News

  • First time ever: India’s secretive Special Frontier Force deployed for Amarnath Yatra security
  • RBI allows banks to offer higher interest on NRI deposits to draw more foreign funds
  • Shubman Gill crosses 7,000 International runs, admits he wanted a double century vs Afghanistan
  • ‘India always on peace side’: PM Modi, Zelenskyy discuss bilateral cooperation on sidelines of G7 Summit
  • Alpha trailer: Alia Bhatt as Sita ‘ready to burn Bobby Deol’s Lanka, Sharvari joins in ‘agnipariksha’; Hrithik Roshan’s eyes make surprise entry

Latest News

First time ever: India’s secretive Special Frontier Force deployed for Amarnath Yatra security

international media news
June 19, 2026

For the first time in the history of the Amarnath Yatra, the elite Special Frontier Force (SFF), als

RBI allows banks to offer higher interest on NRI deposits to draw more foreign funds

international media news
June 19, 2026

Shubman Gill crosses 7,000 International runs, admits he wanted a double century vs Afghanistan

international media news
June 19, 2026

‘India always on peace side’: PM Modi, Zelenskyy discuss bilateral cooperation on sidelines of G7 Summit

international media news
June 19, 2026

Latest News

First time ever: India’s secretive Special Frontier Force deployed for Amarnath Yatra security

international media news
June 19, 2026

RBI allows banks to offer higher interest on NRI deposits to draw more foreign funds

international media news
June 19, 2026

Popular Categories

  • India
  • World
  • Business
  • Entertainment
  • Sports

Quick Links

  • About Us
  • Contact Us
  • Advertise with us
  • Login
  • Add Post
  • Account
  • Dashboard
All Rights Reserved © International Media News | Website By - Hurl Technologies Pvt. Ltd. | WordPress Theme Ultra News