“It’s a routine survey and we are fully compliant and cooperating with the department,” a spokesperson from UpGrad told ET.
This comes a day after ET reported that the directors of another edtech major Byju’s parent, Think and Learn Pvt Ltd, may be summoned by the Ministry of Corporate Affairs (MCA) in their probe over alleged corporate governance lapses.
UpGrad, backed by Temasek and James Murdoch’s Lupa Systems, was valued at more than $2 billion last year and offers online MBA and executive education courses by partnering with local and foreign universities. The company, founded by film producer Ronnie Screwvala, competes with firms including Softbank-backed Eruditus and troubled Indian firm Byju’s, among the country’s biggest startups.
UpGrad’s India CEO Arjun Mohan left the company in January and was roped in by Byju’s last week. ET had reported that Mohan has been roped in as the chief executive of the company’s international business unit, and sources said he may be given additional responsibilities.
