(Bloomberg) -- Troubled education tech startup Byju’s said its auditor BDO resigned, becoming the second such company to do so since mid-2023.
The audit company resigned 45 days after the initiation of a bankruptcy process against Byju’s, citing the suspended board’s failure to provide requested clarifications, Byju’s said in a statement.
BDO did not respond to requests for comment outside of regular business hours.
Byju’s was once India’s most valued startup. It is now staring at insolvency after India’s top court ordered a stay on a ruling last month that allowed it to avert bankruptcy. The halt effectively restarted insolvency proceedings, at least until the Supreme Court further decides on the case.
Deloitte Haskins & Sells quit as Byju’s auditor in June 2023, citing delays in submitting financial results.
--With assistance from Sankalp Phartiyal.
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