The development comes as the Adtech company is grappling with issues including delayed salaries amid cash crunch.

"Rajneesh Kumar and Mohandas Pai have provided invaluable assistance over the past year. Ongoing litigation by some foreign investors has delayed our planning, but their advice will be relied upon in the ongoing reconstruction, which I will personally lead. I have been," said founder Byju Raveendran. And CEOs, think and learn.

Byju said it values ​​the engagement with the advisors and appreciates their efforts in steering the company through turbulent times.

Kumar and Pai said, "Based on our discussions with the founders, it was mutually decided that the tenure of the Advisory Council should not be extended. Although the Forma engagement has ended, the founders and the company are always open to any advice. You can contact us." A joint statement.

Earlier this month, Raveendran asked employees to stop aggressive selling, while cutting course prices by up to 30 percent.