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Edtech major BYJU’S has witnessed another setback with three key board members of the company resigning from their positions amid the ongoing conflicts with lenders, according to a report.

Their departure stems from disagreements with founder Byju Raveendran on critical operational matters related to the edtech company, The Economic Times reported.

BYJU’S early backer GV Ravishankar, Managing Director at Peak XV Partners (formerly Sequoia Capital India), Russell Dreisenstock of Prosus (previously Naspers), and Chan Zuckerberg Initiative’s Vivian Wu have resigned from the board, the report noted, adding that their resignations are yet to be accepted by BYJU’S.

YourStory could not independently verify the report and has reached out to BYJU’S for a comment.

This development comes at a time when the edtech giant awaits large funding infusion while also entangled in disputes with its creditors over a $1.2-billion term loan B (TLB).

The edtech unicorn has been plagued with mounting losses, layoffs, and pending loans after the end of the pandemic-led edtech boom. 

Earlier this week, it initiated another round of job cuts that will impact more than 1,000 people.

BYJU’S is yet to file its financials for FY22. The edtech firm had filed the FY21 financials with regular accounting bodies in India after an 18-month delay in September 2022.