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.

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).

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)