“It is a routine survey and we’re totally compliant and cooperating with the division,” a spokesperson from UpGrad advised ET.
This comes a day after ET reported that the administrators of one other edtech main Byju’s guardian, Suppose and Be taught Pvt Ltd, could also be summoned by the Ministry of Company Affairs (MCA) of their probe over alleged company governance lapses.
UpGrad, backed by Temasek and James Murdoch’s Lupa Programs, was valued at greater than $2 billion final 12 months and affords on-line MBA and government training programs by partnering with native and international universities. The corporate, based by movie producer Ronnie Screwvala, competes with companies together with Softbank-backed Eruditus and troubled Indian agency Byju’s, among the many nation’s largest startups.
UpGrad’s India CEO Arjun Mohan left the corporate in January and was roped in by Byju’s final week. ET had reported that Mohan has been roped in because the chief government of the corporate’s worldwide enterprise unit, and sources mentioned he could also be given extra tasks.
