ED conducts searches at byju’s CEO Raveendran’s office and residence
New Delhi: The Enforcement Directorate (ED) today said it has raided the office and residential premises of Bengaluru-based education technology company Byju’s Chief Executive Officer (CEO) Raveendran Baiju and seized “incriminating” documents from there.
A total of three locations, two businessmen and one residential, were recently raided under the Foreign Exchange Management Act (FEMA), the ED said in a statement.
The ED said the action has been taken on the basis of various complaints received from some people.
The ED said the action has been taken on the basis of various complaints received from some people.
The probe agency alleged that several summons were sent to Raveendran Baiju but he never appeared before the ED. During the search, it was found that Raveendran Byju’s company Think and Learn Private Limited received Rs 28,000 crore under foreign direct investment between 2011 and 2023.
The company has remitted Rs 9,754 crore to various foreign authorities in the name of foreign direct investment during this period, the agency said.