In a scathing resignation letter, BDO subsidiary MSKA highlighted multiple issues with Byju's, including significant delays in financial reporting, inadequate management support, and concerns over the company's ability to recover substantial dues from a Dubai-based entity.
Deloitte, Byju's previous auditor, and the startup's key board members resigned last year, citing governance issues at the firm.
MSKA disclosed that it has filed Form ADT 4, suggesting potential fraud or illegal activities within the company.
The real reason for BDO's resignation is BYJU'S firm refusal to backdate its reports, while BDO went to the extent of recommending a firm that could facilitate such an illegal activity.
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