Byju Raveendran, founder & CEO of Byju's
ND24 Web Desk | Published : 2023-04-29
The Directorate of Enforcement (ED) on Saturday, April 29, has conducted searches and seizure action at three premises (2 Business and 1 residential) in Bengaluru in the case of Byju Raveendaran and his company Think & Learn Private limited’ under the provisions of Foreign Exchange Management act (FEMA). During the search and seizure action various incriminating documents and digital data was seized. The searches revealed that the ed-tech unicorn has received foreign direct investment (FDI) to the tune of Rs 28,000 crore during 2011-2023. Further, the company has also remitted roughly ₹9,754 crore to various foreign jurisdictions during the same period in the name of overseas direct investment. Byju and his firm Think & Learn Pvt Ltd has booked around ₹944 crore in the name of advertisement and marketing expenses including the amount remitted to the foreign jurisdiction. The probe against the platform was initiated based on various complaints received from private persons.
সৰ্বশ্ৰেষ্ঠ নহয়, সৰ্বোত্তমৰ দৌৰত