Ever since Byju's announced a 17-fold surge in losses after delaying its results and changing its revenue calculation method, the edtech startup's troubles aren't ending. Things have only gone downhill as it resorted to layoffs and has now locked horns with its creditors in a legal battle over repayment of debt.
In the latest blow, Deloitte Haskins and Sells has quit as the auditor for Byju's, citing delays in the release of financial statements and audit modifications.
Along with Deloitte, three board members of the edtech unicorn have also stepped down following their differences with the founder Byju Raveendran.
Following Deloitte's decision to distance itself from the troubled, debt ridden startup, Byju's has appointed accounting firm BDO as its auditor for five years.
The current turmoil comes after a drastic decline for Byju's, compared to its rise as one of India's top startups during the pandemic.
