Byju's auditor BDO resigns after start of bankruptcy proceedings, company says
The Hindu
BDO was appointed auditor earlier this year after Byju’s former auditor, Deloitte, left the company, citing several issues with the company’s financial reporting.
Education technology company Byju's auditor BDO Global has resigned after the startup did not provide documents requested following the start of insolvency proceedings, Byju's said on Saturday.
Byju's is fighting several battles including the insolvency proceedings and a $1 billion claim from U.S.-based Glas Trust.
BDO was appointed auditor earlier this year after Byju's former auditor, Deloitte, left the company, citing several issues with the company's financial reporting.
The auditor said in a letter to the company dated Tuesday that despite "inordinate" delays in filing its financials for the year ended March 2023, management had provided inadequate 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," BDO wrote in the letter, seen by Reuters.
Byju's defended its inability to provide the documents, saying in a statement that BDO had requested the materials from the firm's board, which has been suspended due to the insolvency proceedings. The letter should have been addressed to the insolvency professional in control of the firm at the time, the edtech firm said.
BDO in its email to the board said it had sought a detailed forensic review of transactions involving a Dubai-based subsidiary.
RBI plans ₹1 lakh crore OMO in December to boost liquidity amid upcoming tax payments, ensuring stability in the banking system.
IndiGo faces ongoing flight delays and cancellations due to technology issues, weather, and new crew rostering rules.
Stock markets experience volatility as investors await RBI's monetary policy amid foreign fund outflows and mixed global trends.
ED attaches assets worth ₹1,120 crore in Anil Ambani's Reliance Group case, totaling ₹10,000 crore amid money laundering probe.
Rupee rises 20 paise to 89.69 against the dollar as investors await RBI's monetary policy decision amidst market pressures.
Just nine Fugitive Economic Offenders (FEOs) owed Indian banks over ₹58,000 crore in principal and interest. To date, banks have recovered just over ₹19,000 crore — roughly 33% of the total dues.
Commerce Minister Piyush Goyal urges Indian businesses to seize opportunities in Russia's market, addressing talent shortages and trade demands.
Premiumisation is driving the growth in beauty and personal care industry in India and this segment is growing faster than the products made for the masses, industry executives said at Cosmoprof India 2025, a beauty & personal care industry event currently underway in Mumbai.
Scaling Artificial Intelligence(AI) at the speed at which consultants project is not possible by the laws of physics and may not be environmentally sustainable, said Tanvir Khan, who is the Executive Vice President and Chief Operating Officer of NTT DATA North America, part of the Japanese technology services and data centre company NTT Data, in an interview with The Hindu.
The Rupee appreciated by 19 paise to close at 89.96 against the U.S. dollar amid weak dollar index support.
India aims to expand its tea exports to China, highlighting diverse varieties like Darjeeling and Masala at a recent buyer-seller meet.
Stock markets rebound after four days of decline as Sensex rises 158 points, driven by tech and IT shares.
India reduces Russian oil imports by 38% in October 2025, marking the sharpest decline in value and volume yet.