BENGALURU: Education content company Byju’s said on Monday that it has made all payments due to Aakash Educational Services, which it acquired last year for nearly $1 billion. There were media reports recently that the company had delayed part of the payments to Aakash to August. Byju’s pointed out that the payment in August had been mutually agreed on with Aakash.
Byju’s also said its fundraising efforts are on track and the majority of the $800-million that had been committed in the last round had been received. “The balance is also expected soon,” it said.
The company further said that its audited financial results for the year 2020-21 will be announced in 10 days. There were allegations that its auditor, Deloitte, was reluctant to sign off on the results because of certain accounting treatments. But Byju’s said the delay was only because it was trying to consolidate the accounts of the many companies it had acquired.
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