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.

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.