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(Bloomberg) -- The auditor for Indian tech firm Byju’s quit, the latest setback for the once high-flying startup that’s had its offices searched by anti-money laundering officials and is embroiled in a tussle with creditors over a $1.2 billion loan.Most Read from BloombergTitanic Sub Crew Dead After Vessel’s Catastrophic ImplosionThese Are the World’s Most (and Least) Liveable Cities in 2023Debris Found Near Titanic Wreck in Search for Missing VesselTitanic Sub Search...

Once the most sought-after edtech company, especially during the COVID-19 pandemic, BYJU’S is now embroiled in a series of issues.

Statements confirming the two board members resignation come a day after Byjus denied the development, calling it speculative.

Earlier today, a report stated that BYJU'S is engaged in discussions with three board members of the company who stepped down from their positions.

Earlier today, a report stated that BYJU'S is engaged in discussions with three board members of the company who stepped down from their positions.

Earlier today, a report stated that BYJU'S is engaged in discussions with three board members of the company who stepped down from their positions.

Byjus board resignation: The resignations by the auditor and board members complicate the troubles that the company is facing

Byju’s did not pay $40 million in interest that was due on Monday, according to people with knowledge of the matter. The company said in a statement June 6 that it has filed a complaint concerning the loan to the New York Supreme Court.

Education startup Byju's has elected not to make further payments on a $1.2 billion loan after a dispute with lenders, escalating a conflict that could jeopardize the future of one of India's highest-flying startups.

This makes Byju’s one of the largest Indian startups ever to miss payment on a dollar loan