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India’s company affairs ministry ordered an investigation into edtech startup Byju’s final week, tv information channel CNBC-TV18 reported Friday, additional complicating issues on the most Indian helpful startup that lost both its auditor and three board members on Thursday.

The ministry has taken cognizance of “various corporate governance lapses” at Byju’s, the tv channel reported, citing unnamed sources.

The new probe follows the ministry asking Byju’s final yr to clarify why it hadn’t filed its audited financials. In late April, India’s crime-fighting company searched three premises of edtech large Byju’s and its founder Byju Raveendran, it mentioned Saturday, and seized varied “incriminating” paperwork and digital knowledge.

Byju’s attracted intense scrutiny final yr from the federal government, traders and collectors after it repeatedly failed to publish its accounts. In September, Byju’s lastly printed its accounts for the yr ending March 2021, revealing income figures that fell in need of its personal projections.

Global large Deloitte give up because the auditor of Byju’s and three board members resigned from essentially the most helpful Indian startup on Thursday, sending a shockwave via the trade. In a letter to Byju’s board on Thursday, Deloitte mentioned that it had not undertaken the auditing of the edtech large’s accounts for the yr ending March 2022 and cited the delay as a purpose for its resignation.

The Bengaluru-headquartered startup, additionally the world’s most precious training expertise firm, is grappling with a sequence of challenges. It refused to make a $40 million cost earlier this month and counter-sued its lenders. Byju’s mentioned its lenders have been working in “bad-faith negotiating tactics.” Lenders allege that Byju’s has technically defaulted on the mortgage.

The startup can be cutting about 1,000 jobs as it pushes to improve its finances. BlackRock lower Byju’s valuation by nearly two-thirds to $8.4 billion on the finish of March this yr, TechCrunch first reported.