NEW DELHI: The Enforcement Directorate (ED) on Saturday said it has conducted searches at the office and residence of edtech major Byju’s CEO Raveendran Byju in Bengaluru.
The probe agency carryied out the searches at three premises, two business and one residential, under the provisions of Foreign Exchange Management Act (FEMA).
According to the agency, officials have seized ‘incriminating’ documents and digital data during the search. It said the action was taken on the basis of ‘various complaints’ received by private people and alleged that Raveendran was issued several summons but he remained ‘evasive and never appeared’ before the ED.
The searches found that Raveendrans BYJU’s company, Think & Learn Pvt Ltd, received foreign direct investment (FDI) to the tune of about Rs 28,000 crore during 2011–2023.
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