(Bloomberg) — India has started an investigation into financing and accounting practices at Byju’s, according to people with knowledge of the matter, after a previous inspection found corporate governance lapses at the struggling online tutoring firm.
The federal government has asked the regional office of the Registrar of Companies in Hyderabad to investigate Byju’s books to ascertain if the company misreported financial statements and whether funds were siphoned off, the people said, asking not to be identified as the matter is private.
There were shortcomings in the accounts of Byju’s, the people said, explaining the reason for the new probe. They didn’t specify what those failings were. The registrar’s office has one year…
