ED Conducts Searches At Home, Offices Of Byju Raveendaran In Bengaluru Over ‘FEMA Violations’

ED conducted searches in Bengaluru in the case of Raveendaran Byju and his company over alleged FEMA violation.

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.


Congress president Mallikarjun Kharge took a jibe at PM Modi and said every time the PM visits Japan Read more
Rahul Gandhi vouched for a clean and non-corrupt government and even said that the first Karnataka C Read more
While taking charge as Earth Sciences Minister, Rijiju said that his shifting was not a "punishment" Read more
The Supreme Court dismissed all the pleas that challenged the validity of the states' laws allowing Read more
Siddaramaiah has been named chief minister of Karnataka and will take oath on May 20. Shivakumar wil Read more


সৰ্বশ্ৰেষ্ঠ নহয়, সৰ্বোত্তমৰ দৌৰত

Quick Links





About us

Contact Us

Avatar Complex, Naharani Path, Near Dispur Last Gate, Guwahati-781006, Assam


Copyright © 2023. All rights reserved by News Daily 24