MCA refutes recent News Reports on Byju’s, Says Proceedings are Ongoing under Companies Act

The Ministry of Corporate Affairs (MCA) refuted recent claims that Byju’s was cleared of financial fraud allegations, stating that investigations under the Companies Act, 2013, are ongoing with no final decision made. Reports suggesting Byju’s exoneration were labeled as "factually incorrect and misleading" by the MCA. Allegations of fraud and financial irregularities prompted the MCA's scrutiny into Byju’s operations. Despite media reports suggesting otherwise, the MCA emphasized that investigations are ongoing and cautioned against premature conclusions. Byju’s has faced allegations including revenue inflation and misrepresentation of financial health, which have drawn significant attention to its governance and financial practices. The MCA’s clarification serves to remind that investigations are active, and any assertions of Byju’s clearance are premature and inaccurate.