SFIO probe against Byju’s unlikely
ROC-Bengaluru merely conducted a preliminary inquiry
Byju's rights issue to raise $200 mn fully subscribed
New Delhi There is no ongoing Serious Frauds Investigation Office (SFIO) investigation against edtech unicorn Byju’s, according to sources in the Ministry of Corporate Affairs (MCA).
The Registrar of Companies (ROC) Bengaluru merely conducted a preliminary inquiry under section 206 of the Companies Act, 2013, which empowers the registrar to call for any further information, explanation, or document related to a company through a written notice, according to sources close to the matter.
The edtech giant has provided the requested information to the ROC Bengaluru.
Reports suggesting that an ongoing investigation by the Serious Frauds Investigation Office (SFIO) against Byju’s is blatantly false, sources added. Byju’s also categorically and emphatically stated that there is no SFIO investigation against it.