Byju’s has announced that BDO Global has resigned as its auditor following a dispute over document requests amid ongoing insolvency proceedings. BDO, which took over from Deloitte earlier this year, cited delays and insufficient support from Byju’s management as reasons for its departure.
In a letter dated Tuesday, BDO expressed concerns about transparency and the inability to access necessary financial documents for the fiscal year ending March 2023. Byju’s countered, stating that BDO’s requests were directed to a suspended board rather than the insolvency professional overseeing the firm.
Byju’s is also grappling with a $1 billion claim from US-based Glas Trust and has faced significant financial and regulatory challenges, including an assets freeze. The company, once valued at $22 billion, has seen its fortunes decline amid these disputes. Byju’s has called for a forensic audit of BDO’s resignation by the appointed insolvency professional.
