New Delhi, 29 April: The Enforcement Directorate (ED) has raided three locations of Byju Ravindran, Chief Executive Officer (CEO) of online learning platform Byju’s in Bengaluru. ED has conducted these raids at the premises of Byju Raveendran and his company Think and Learn Private Limited.
In a statement issued on Saturday, the central probe agency ED said that searches have been conducted at three premises of online learning platform Byju’s CEO Ravindran Byju and his company in Bengaluru. According to the ED, various incriminating documents and digital data have been seized during searches at Ravindran Byju’s office and residence.
According to the investigating agency, this action has been taken under the provisions of the Foreign Exchange Management Act (FEMA). The ED said that a total of 3 premises of Ravindran Byju – two business and one residential premises were raided under the provisions of FEMA. According to ED, this action has been taken on the basis of various complaints received from some people.
According to the probe agency, several summons were sent to Ravindran Byju, but he did not appear before the ED. During the search by the ED, it was found that Ravindran Byju’s company ‘Think and Learn Private Limited’ has received about 28 thousand crore rupees under Foreign Direct Investment (FDI) during the year 2011 to 2023. The company remitted about Rs 9,754 crore to various foreign authorities in the name of FDI during this period.
