Govt weighs SFIO probe after auditor exit at Byju's

The ministry of corporate affairs is exploring the possibility of involving the Serious Fraud Investigation Office (SFIO), which has experts from different arms of the government, to probe the auditor resignation and delayed financial reporting by Think and Learn Pvt. Ltd, which runs online tutor Byju’s, two people familiar with the development said.

- Gireesh Chandra Prasad

The ministry has already examined the legalities and the procedures for making a reference to SFIO over the last few days, one of the people cited above said on condition of anonymity.

Although the Registrar of Companies (RoC) is empowered to inspect books of accounts, SFIO is being considered for a probe as it is a multidisciplinary agency armed with experts across disciplines, including accountancy, forensic auditing, information technology, banking, law, capital markets and taxation.