The chief financial officer of the ed-tech firm BYJU’S, Ajay Goel, has resigned from his position following the conclusion of the financial year 2022 audit process. In an announcement made on Tuesday, the company stated that he will be rejoining Vedanta. In his place, BYJU’S has appointed industry veteran Pradip Kanakia as a senior advisor and Nitin Golani, the president of finance, has been entrusted with additional responsibilities as the Chief Finance Officer (CFO) for India to oversee the company’s financial operations, according to an official statement.
The statement indicated that his transition will occur after he fulfils the formalities of the FY 2022 audit. According to sources, the company had scheduled a board meeting for the second week of October to adopt the results, but it had to be postponed due to Goel’s ongoing resignation process. Although Goel has completed the audit process, the auditing firm BDO (MSKA & Associates) will finalise the audit after conducting due diligence. This is because the CFO’s resignation has a substantial impact on the company’s audit process, the statement mentioned.
Within two months of Goel’s joining, BYJU’s auditor Deloitte resigned in June, citing a delay in the submission of financial statements for FY 2022. In a letter to the BYJU’s board, Deloitte Haskins and Sells explained that they were resigning as auditors of Think & Learn, three years before the expiration of their contract, due to significant delays in the edtech firm’s financial statements for the fiscal year ending on March 31, 2022, it added.
With inputs from PTI.
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