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BYJU'S spokesperson said that the recent visit by officials from the ED to one of their offices was related to a routine inquiry under FEMA.

"FEMA searches also revealed that the company has received foreign direct investment to the tune of Rs 28,000 crore between 2011 and 2023. Further, the company has also remitted Rs 9754 crore to various foreign jurisdictions during the same period in the name of overseas direct investment," said the official. 📰 BYJU’s Three Offices Raided Over FEMA Violations; ED Claims It Remitted Rs 9754 Crore to Foreign Jurisdictions.

Further investigation into the matter is on. Continue reading to find out why ED has conducted search and seizure operations at Byjus premises.

It alleged that the company has not prepared its financial statements since financial year 2020-21 and has not got the accounts audited which is mandatory.

Enforcement Directorate claims Byju’s remitted Rs97.54b to various foreign jurisdictions

The recent visit by officials from the Enforcement Directorate (ED) was related to a routine inquiry under the Foreign Exchange Management Act (FEMA), according to Byjus legal team spokesperson.

Indias financial crime-fighting agency said on Saturday it had raided three premises linked to education platform Byjus and its billionaire CEO Byju Raveendran over suspected breaches of the... | April 29, 2023

Byju’s controversies: The ED conducted searches on Byju’s premises in Bengaluru in connection with alleged foreign exchange violations on Saturday. But, this is not the first time that the ed-tech firm has come under the government scanner

The Enforcement Directorate conducted searches at 3 premises of BYJU’s in Bengaluru under the provisions of Foreign Exchange Management Act.

Directorate of Enforcement (ED) searched the premises of online private education portal Byju’s, in Bengaluru on April 29.