The Ministry of Corporate Affairs will investigate the flow and use of funds in BYJU'S Alpha, the US unit of the edtech startup.
The decision follows a Registrar of Companies (ROC) report highlighting financial irregularities, leading to a need for an advanced probe.
BYJU'S is currently dealing with legal battles in the US, mass layoffs, financial issues, and regulatory scrutiny.
At a time when BYJU’S is facing legal action from its US lenders, the Ministry of Corporate Affairs will likely probe the flow and use of funds in a special purpose vehicle (SPV) called BYJU’S Alpha, the US unit of the embattled Indian edtech startup.
As per Moneycontrol’s report, citing a government official, the decision by the MCA follows after the Registrar of Companies (ROC), Bengaluru, recently submitted its report on BYJU’S.