Byju denies knowledge of ‘financial irregularities’ found in MCA investigation

New Delhi (Uttam Hindu News): After the Ministry of Corporate Affairs’ (MCA) investigation team submitted a report on Byju’s containing details about alleged financial irregularities at the firm, the crisis-hit edtech company on Thursday said it has no interest in any such report or its There is no information about the content. According to media reports, the investigation branch of MCA has accused Byju of multiple violations of the Companies Act and financial irregularities. The ministry is yet to analyze the report, after which further action will be taken.

“We can confirm that there has been no financial irregularity in the company’s affairs,” a Byju’s spokesperson told IANS. “We are awaiting any formal communication from the MCA,” the spokesperson said. The company had earlier said that it gave all necessary responses along with documents to the MCA. The government has intensified the investigation of Byju’s books of accounts.

The Karnataka High Court on Wednesday granted time to Byju’s parent company Think and Learn Pvt Ltd to file its response to the reply filed by some investors. The moratorium against the resolutions passed by investors at the extraordinary general meeting (EGM) on February 23 continues, and “none of those resolutions can be implemented”, Byju said in a statement. The company said that the next hearing of the case will be on March 28.