3 Non-Executive Directors At Byju's Tender Resignation
3 Non-Executive Directors At Byju's have tendered their resignation according to media reports. The names of GV Ravishankar, Russell Dreidenstock, and Vivian Wue have been doing the rounds in media circles, however, there has been no confirmation of their resignation from Byju's.
A report published by CNBC- TV 18 claimed that Byju's internal financial crisis collapsed to a new low when the Ministry of Corporate Affairs ordered an investigation over suspected financial irregularities and governance issues. Additionally, the edtech company's auditor Delloite has backed out citing a delay in filling audited financials for 2022-23.
It is pertinent to note that Byju's attracted intense scrutiny over filling its delayed annual financial statements. Troubles kept on brewing for the company ever since its valuation was reduced to nearly 8.4 billion by BlackRock according to a report published in Techcrunch.
The news of the resignation from the non-executive directors comes at a time when India's top edtech company is facing a host of additional issues ranging from layoffs to being sued by its lenders.
