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 central 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).
ED s FEMA probe against BYJU s in final stages orissapost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from orissapost.com Daily Mail and Mail on Sunday newspapers.
Due Diligence By Law Firm Found No FEMA Violations: BYJU S Tells Shareholders oneindia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from oneindia.com Daily Mail and Mail on Sunday newspapers.
The federal probe agency mentioned multiple grounds for charging the company and its chief promoter that included charges of 'failing' to submit documents of imports against advance remittances made outside India