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India Business News: The Enforcement Directorate (ED) has asked Bureau of Immigration to issue a look out notice against Byju Raveendran, the founder and CEO of Byju's, to

The LOC (lookout circular), which is issued at the entry and exit points of the country, against Raveendran was first issued over a year ago. | Latest News India

The notices were issued based on a complaint alleging contraventions of the Foreign Exchange Management Act (FEMA) totalling Rs 9,362.35 crore.

The Enforcement Directorate is turning up the heat on Byju’s founder, Byju Raveendran, just in time for the edtech firm’s Extraordinary General Meeting on February 23, according to a report buzzing around on February 22. In a dramatic twist, ANI disclosed that the ED has called on the Bureau of Immigration to slap Raveendran with […] - Newsx

The company is facing charges of foreign exchange violations, a reason behind the push for LOC. Raveendran has mostly been shuttling between Delhi and Dubai for the past three years.

Edtech firm Think and Learn Private, owner of BYJU'S, said neither the company's founder and CEO Raveendran Byju nor any other board member will attend the meeting called by some select investors.

Shareholders at Byjus are set to vote on Friday on a resolution brought by some investors to oust founder CEO Byju Raveendran and his family members

Edtech major Byjus top official on Wednesday said the companys $200 million rights issue has been fully subscribed and asked all shareholders to participate in the renewed mission. Think and Learn Private Limited, which operates under Byjus brand name, has floated $200 million rights issue at less than 99 per cent enterprise valuation compared to its peak valuation of $22 billion. Our rights issue is fully subscribed and my gratitude to my shareholders remains strong.

Ronnie Screwvala, serial investor and Co-founder/Chairperson of edtech platform upGrad, on Wednesday slammed Byju's and its Founder and CEO Byju Raveendran for the company's downfall, saying that "one rotten apple" in the Indian ...

Screwvala has been vocal in criticising Byju’s as the company, once valued at $22 billion, faces severe cash crunch amid regulatory challenges.