On Wednesday morning, several news agencies cited MCA probe findings to say that Byju’s had been cleared of committing fraud. Come evening, and the narrative had changed completely.
If there’s one thing to be learnt from what unfolded on Wednesday, it is that no news about Byju’s should ever be taken at face value.
In the morning, news agency Bloomberg’s report, titled “India Probe Finds Byju’s Didn’t Commit Fraud But Had Compliance Lapses”, said that the edtech company, once the country’s most valued startup at over $22 billion, was almost given a clean chit by the Ministry of Corporate Affairs (MCA). The report said, citing sources, that while Byju’s may have been guilty of corporate governance issues, it did not commit any fraud.
“The year-long probe by the …
Diti is a copy editor at The Morning Context. She joins us from Deccan Herald where she oversaw the daily news coverage in the digital vertical as a chief sub-editor. She also managed social media and contributed to data stories and film analysis. Before DH, she was with Reuters as an online producer.
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diti@mailtmc.com