Byju's Auditor Resigns Amid Transparency Concerns; Founder Alleges Blackmail

• Byju's auditor BDO (MSKA & Associates) has resigned, citing lack of transparency and pending legal issues.
• The resignation letter highlighted inadequate support from Byju's management in providing necessary audit information.
• Byju's co-founder Byju Raveendran called the resignation a blackmail tactic, claiming compliance with all auditor requests.
• BDO requested a forensic audit after Byju's admitted insolvency in July and mentioned loss of control over some subsidiaries.
• This marks the second auditor resignation in 15 months, following Deloitte's exit last year over delayed financial statements.

Source: Entrackr