This comes at a time when the company has been engaged in a dispute with its investors regarding the validity of the funds raised from a recently concluded rights issue offering.
ED had on Saturday searched three premises in Bengaluru linked to the company over alleged foreign exchange law violations. Searches at Think & Learn Private Limited (Byju s online learning platform) yielded "various incriminating documents and digital data was seized", ED had said. ED Raids BYJU s Office: CEO Byju Raveendran Says Brought More FDI to India Than Any Other Startup, Company in Compliance .
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. ED Conducts Searches at BYJU’s Offices in Bengaluru Against CEO Raveendran Byju Over FEMA Violations, Says He Never Appeared for Questioning.
"FEMA searches also revealed that the company has received foreign direct investment to the tune of Rs 28,000 crore between 2011 and 2023. Further, the company has also remitted Rs 9754 crore to various foreign jurisdictions during the same period in the name of overseas direct investment," said the official. 📰 BYJU’s Three Offices Raided Over FEMA Violations; ED Claims It Remitted Rs 9754 Crore to Foreign Jurisdictions.