Government investigation clears Byju's of financial fraud but identifies governance lapses.

A government investigation cleared online education startup Byju's of financial fraud, but identified lapses in the company's corporate governance. The Ministry of Corporate Affairs' probe found no evidence of fund siphoning or financial account manipulation, but identified governance shortcomings that contributed to the company's mounting losses. Byju's, once valued at $22 billion, has faced bankruptcy cases both in India and abroad.