ED conducts searches against BYJU’s CEO Raveendran CEO, says he never appeared for questioning
PTI, Apr 29, 2023, 12:12 PM IST
The Enforcement Directorate on Saturday said it has searched the Bengaluru-located office and residential premises of Edtech major BYJU’s CEO Raveendran Bjyu and seized ”incriminating” documents and digital data as part of a foreign exchange violation probe.
A total of three premises, two business and one residential, were raided recently under the provisions of the Foreign Exchange Management Act (FEMA), it said in a statement.
The agency said it has seized various incriminating documents and digital data.
It said the action was taken on the basis of ”various complaints” received by private people and alleged that Raveendran Bjyu was issued ”several” summons but he remained ”evasive and never appeared” before the ED.
The searches found that his company, Think & Learn Pvt. Ltd., received foreign direct investment (FDI) to the tune of about Rs 28,000 crore during 2011-2023.
”The company also remitted about Rs 9,754 crore to various foreign jurisdictions during the same period in the name of overseas direct investment,” the agency said.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
MUST WATCH
Latest Additions
Bengaluru maximum temperature hit 38.5 degree Celsius on Sunday: IMD
Private players will make space more accessible: ISRO chief
‘Doctored’ videos of Amit Shah: Delhi Police register case after MHA plaint
EC asks AAP to modify campaign song, party dismisses request
‘Defeat Shettar, the way he was defeated in Hubballi’