Did Byju’s give itself a clean chit?
On Wednesday morning, several news agencies cited MCA probe findings to say that Byju’s had been cleared of committing fraud.
In the morning, news agency Bloomberg’s report, titled “India Probe Finds Byju’s Didn’t Commit Fraud But Had Compliance Lapses”, said that the edtech company, once the country’s most valued startup at over $22 billion, was almost given a clean chit by the Ministry of Corporate Affairs (MCA).
The report said, citing sources, that while Byju’s may have been guilty of corporate governance issues, it did not commit any fraud.
“The year-long probe by the …
Did Byju’s give itself a clean chit?
On Wednesday morning, several news agencies cited MCA probe findings to say that Byju’s had been cleared of committing fraud. Come evening, and the narrative had changed completely.
If there’s one thing to be learnt from what unfolded on Wednesday, it is that no news about Byju’s should ever be taken at face value.
In the morning, news agency Bloomberg’s report, titled “India Probe Finds Byju’s Didn’t Commit Fraud But Had Compliance Lapses”, said that the edtech company, once the country’s most valued startup at over $22 billion, was almost given a clean chit by the Ministry of Corporate Affairs (MCA). The report said, citing sources, that while Byju’s may have been guilty of corporate governance issues, it did not commit any fraud.
“The year-long probe by the …
