ED Seeks Look-Out Notice Against BYJU’s CEO Raveendran Over FEMA Violations

DY365
DY365
Published: February 22,2024 01:32 PM
DY365

Story highlights

The probe agency has sought the circular against the founder over alleged FEMA violations

February 22, 2024: The Enforcement Directorate has asked the Bureau of Immigration to issue a look-out-circular (LOC) against Byju Raveendran, the CEO of ed-tech company BYJU’s to ensure that he does not leave the country without intimating the investigation officer.



The probe agency has sought the circular against the founder over alleged FEMA violations.



dy365

As per sources, in November 2023, the agency had issued showcause notices to Think & Learn Private Limited and Raveendran on the basis of a complaint filed against alleged contraventions of Foreign Exchange Management Act (FEMA) to the tune of Rs 9,362.35 crore.



Think & Learn Pvt Ltd is the parent company of BYJU’s.