India's Ministry of Corporate Affairs has asked Byju's to explain why it hasn't filed its audited financials.
Byju's, which is India's most valuable startup with a valuation of $22 billion, missed the deadline to file its audited results.
The startup backed by scores of high-profile investors said in July that it will file the results in 10 days. Since then, it has missed its own deadlines.
Karti Chidambaram, an Indian lawmaker, called for an investigation into the finances of the firm after it failed to submit its statements.
Chidambaram wrote an open letter to the country's fraud regulator, requesting they open an investigation into the finances of Byju's, which he pointed out has yet to secure $250 million capital from its most important investors.
A request for comment was not immediately responded to.
A source familiar with the matter says that Byju's has been in the market to raise a new round for over four months but has had little to no success.
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