Global investment firm Prosus (formerly Naspers) on Tuesday said the reporting and governance standards at Byju’s did not evolve sufficiently for a company of its scale.

This is the first official statement by Prosus after its representative resigned from the board of the edtech firm last month. It holds 9.6 per cent in Byju’s.

Prosus said that despite repeated efforts from its director, the executive leadership at the start-up disregarded advice and recommendations on strategic, operational, legal and corporate governance matters.

Last month, three members of the Byju’s board resigned: Russell Dreisenstock of Prosus, V. Ravishankar of Peak XV Partners and Vivian Wu of the Chan-Zuckerberg Initiative.

“The decision for our director to step down from Byju’s board was taken after it became clear that he was unable to fulfil his fiduciary duty to serve the long-term interests of the company and its stakeholders,’’ it added.

While it is very unusual for an investor to come out with such a statement, Byju’s has since the director’s resignation taken corrective action to address governance concerns.

Recently, it announced the appointment of former State Bank of India (SBI) chairman Rajnish Kumar and IT industry veteran T V Mohandas Pai to join its newly constituted advisory council.

At an extraordinary general meeting (EGM) held earlier this month, the company told its shareholders about establishing a board advisory committee that will offer suggestions on the composition of the board and governance structure.