This is the best summary I could come up with:
Ajay Goel, who joined Byju’s as CFO in April this year, has already quit the edtech giant, the two said Tuesday.
Goel helped “complete the audit formalities” and is returning to mining conglomerate Vedanta, Byju’s said.
Tuesday’s disclosure is the latest slide for Byju’s, India’s most valuable startup, which is grappling with scores of governance, financial and optics issues.
The startup is dealing with a group of lenders over a $1.2 billion term-B loan, and another potential conflict with Davidson Kempner, which had originally agreed to extend as much as $250 million credit to Byju’s but is now instead pushing for a payment over execution of a technical default clause.
A month later Prosus, which owns more than 9% of Byju’s and is one of the earlier backers, publicly criticized the Bengaluru-headquartered startup for not evolving sufficiently and disregarding the investor’s advice and recommendations despite repeated attempts.
Byju’s, which has cut over 10,000 jobs since the market condition turned, has repeatedly also delayed filing the financial account for March 2022.
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