The billionaire founder of Byju’s, the Indian education-technology firm that lost its auditor and three board members in one week, has in recent days reached out directly to investors to assure them the startup will finally release long-delayed financials and strengthen accounting processes.
On a call with investors, Byju Raveendran acknowledged his failure in installing processes that could have helped close the accounts on time and said its systems are being improved with the help of a newly appointed finance chief and general counsel, according to people familiar with the discussion. The startup told investors it is on track to finalize fiscal 2022 numbers by the end of September after hiring MSKA & Associates to replace Deloitte Haskins & Sells, according to the people, who asked not to be named as the information isn’t public.
