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“The company provides online education in name of Odaclass. ED searches against the company revealed that the company is 100% owned by Chinese nationals and all the affairs of the company including financial decisions are being taken by the persons sitting in China,” an ED spokesperson said.
New Delhi: The Enforcement Directorate has seized Rs. 8.26 crore in a case related to Pigeon Education Technology India Private Limited, under the provisions of the Foreign Exchange Management Act (FEMA), 1999, media reports said.
The Enforcement Directorate (ED) on Friday said that Odaclass, a company of Pigeon Education Technology India Private Limited, which provides online education, was owned by Chinese nationals and the Indian directors were nothing but puppets.The ...
The ED had raided the firm’s office in Bengaluru in April and the probe revealed that the company was part of a complex web of entities having a controlling company in the Cayman Islands.
The Enforcement Directorate (ED) has seized Rs 8.26 crore in a case against Pigeon Education Technology India Private Limited under provisions of the Foreign Exchange Management Act (FEMA), 1999, according to an official statement issued on Friday.