Dynamite News ED's FEMA probe against BYJU's in final stages
An Enforcement Directorate (ED) investigation into alleged foreign exchange law violations by edtech major BYJU's and its CEO and co-founder Raveendran Bjyu is in the final stages of completion following which a show cause notice could be served to them. Read further on Dynamite News:
New Delhi: An Enforcement Directorate (ED) investigation into alleged foreign exchange law violations by edtech major BYJU's and its CEO and co-founder Raveendran Bjyu is in the final stages of completion following which a show cause notice could be served to them, official sources said Tuesday.
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The federal probe agency had in April searched two business and one residential premises, including that of the registered company of BYJU's -- Think & Learn Pvt. Ltd. -- under the provisions of the Foreign Exchange Management Act (FEMA).
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The probe against BYJU's has been going on since then and the adjudicating authority of the FEMA may soon serve a show cause notice to the company, the sources said. (PTI)