Peak XV Partners, Prosus, and the Chan Zuckerberg Initiative all acknowledged their representatives' resignations from the board of directors of edtech business Byju's in separate announcements published late Friday.

Prosus also confirmed Dreisenstock's departure from Byju's board. Byju's disputed the resignations on Thursday.

The resignations come at a time Byju’s is caught in court cases with lenders, loan defaults and much-delayed filing of its financial results for the year ended March 31, 2022.

Following these departures, the remaining directors are Byju Raveendran and his family members Divya Gokulnath and Riju Raveendran. They jointly possess 26-27 per cent of the company. Peak XV Partners owned a 6 per cent stake, while Prosus had a 9.67 per cent stake.

Following Deloitte's departure, Byju's said on Thursday that it had hired BDO (MSKA & Associates) as its statutory auditor for a five-year term beginning in fiscal year 2021-22.

The Bengaluru-based company is now dealing with a number of problems, including completing fresh conditions for its USD 1.2-billion term loan B.

However, the firm continues to hold one-to-one conversations with creditors to finalise fresh terms.

Peak XV, Prosus, Chan Zuckerberg Initiative Confirm Resignation From Byju's Board

The Bengaluru-based company is now dealing with a number of problems, including completing fresh conditions for its USD 1.2-billion term loan B