Byju’s tried to grow too fast without creating the rigour and the corporate discipline, union minister of state IT Rajeev Chandrasekhar told an audience at the Mumbai Tech Week.
The comments come ahead of crucial meet on Friday in what is being seen as an intensifying tussle between founder Byju Raveendran and investors.
A group of investors is reportedly pushing to remove all three members of the edtech -- Raveendran, his wife Divya Gokulnath, and his brother Riju Ravindran.
According to the report, the resolution is expected to pass in favor of investors.
“Growing at that rate without corporate discipline that a growth company like that should have at a time when money was flowing and equity was cheap… Eventually, that cycle always turns.”
In his message to entrepreneurs, Chandrasekhar said if one does not learn from those who came before them, they will make mistakes and "I think, Byju’s is that mistake".
The minister added that entrepreneurs make mistakes and it is a natural course of building a business.
“There is a thing about discipline that some people instinctively get and some people need to take a couple of losses to understand. These issues should not necessarily be understood as something that defines entrepreneurship,” Chandrasekhar added.