India has launched a probe into Indian edtech startup Byju’s financial and accounting practices following earlier inspections that pointed to corporate governance issues, according to sources.

The federal government has tasked the Hyderabad branch of the Registrar of Companies with examining Byju’s financial records.

The aim is to determine if there were any misreported statements or misuse of funds.

Byju’s, once India’s highest-valued startup, is currently under insolvency proceedings.

Byju’s founder, Byju Raveendran, admitted the company’s valuation, once at US$22 billion, has sharply declined.

Recent Byju’s developments