Rajnish Kumar, former chairman of the State Bank of India, and Mohandas Pai, former CFO of Infosys, are set to leave Byju’s advisory council. Their departure follows a period of significant challenges for the edtech giant, including corporate governance issues and financial scrutiny.
Source:- india today
Byju’s has faced a series of high-profile resignations, including those of its auditor Deloitte and board members from key investors like Peak XV, Prosus, and the Chan Zuckerberg Initiative. These exits were prompted by concerns over Byju’s failure to submit its financial statements for the fiscal year 2022 .
Source:- BBC news
Kumar and Pai were brought onto the advisory council to help navigate these governance challenges and provide strategic guidance to the company’s leadership. Their exit raises further questions about the stability and future direction of Byju’s amidst ongoing scrutiny from the Ministry of Corporate Affairs, which is investigating the company’s financial practices
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