A whistleblower has alleged that accounting firm Earns & Young (EY) had manipulated edtech firm BYJU’s CIRP process.
However, the most alarming revelation by the whistleblower is how a legitimate settlement was deliberately derailed to keep Byju’s in insolvency.
The whistleblower said that EY deliberately delayed BYJU’s CIRP process behind the scenes.
EY did not disclose that it had already worked for BYJU’s for two years, the whistleblower alleged.
As per the rule, companies that have already done work in IBBI’s process are kept out of the process.
The whistleblower claims that EY and Glass Trust deliberately delayed the CIRP process, which led to the formation of the Committee of Creditors.
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