Goods and Services Tax (GST) officials visited Temasek-backed edtech startup UpGrad’s offices for a routine survey, the company said on Wednesday.
The survey comes at a time when directors of another edtech major Byju’s parent, Think and Learn Pvt Ltd, have come under the lens of the Ministry of Corporate Affairs (MCA) over alleged corporate governance lapses.
“It’s a routine survey and we are fully compliant and cooperating with the GST department” said Koell Hemdev, head of legal at upGrad, in a statement to Financial Express.
The Temasek and James Murdoch’s Lupa Systems backed-edtech that offers online MBA and executive education courses in partnership with local and foreign universities, was founded by film producer Ronnie Screwvala, alongside Mayank Kumar and Phalgun Kompalli in 2015 and was valued at more than $2 billion last year.