The Enforcement Directorate has issued a seizure order against the estate of former Goa MLA and mining magnet Anil Salgaocar and seized the shares held by this estate in connection with the foreign assets held by Mr Salgaocar before his death.
The agency received input that Agarwal had incorporated and used dummy entities for remitting funds to Dubai-based companies without availing any services as previously declared by him to Authorised Dealer (AD) banks.
The ED conducted searches at Pune and Ahmednagar last month targeting VIPS Group companies and Global Affiliate Business, which are managed and controlled by Vinod Khute.
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 .