Probe finds no evidence of fraud at Byju’s, but detects governance failure

An investigation by the Ministry of Corporate Affairs has uncovered lapses in Byju’s corporate governance but did not find evidence of financial fraud, as reported by Bloomberg on Wednesday (June 26).

The ministry’s year-long investigation revealed no signs of wrongdoing such as fund siphoning or financial account manipulation, the report said, citing sources familiar with the matter. However, it identified governance issues that contributed to the startup’s growing losses.