Breaking: ED raids Raveendaran Byju’s office, residence, investigation on for FEMA violations
Business News›Tech›Startups›Breaking: ED raids Raveendaran Byju’s office, residence, investigation on for FEMA violations
ED conducted searches and seizure action in Bengaluru in the case of Raveendaran Byju and his company ‘Think & Learn Private Limited’ under the provisions of FEMA. During the search & seizure action various incriminating documents and digital data was seized. Searches also revealed that the company has received foreign direct investment to the tune of Rs.28000 Crore (approx.) during the period from 2011 to 2023. The company has booked around Rs.944 Crore in the name of Advertisement and Marketing expenses including the amount remitted to foreign jurisdiction
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