What Led to the ED’s Investigation of BYJU’S?

Last Week the Enforcement Directorate Conducted Search and Seizure Operations at Premises Linked to Edtech Giant BYJU’S.

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The Raids Were Undertaken Under the Provisions of the Foreign Exchange Management Act (FEMA)

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Under the Scanner Are Payments in Excess of INR 9,000 Cr, Which Were Routed to Foreign Jurisdiction Between 2011 and 2023

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ED Also Flagged Concerns Around the Delay in Filing of Financial Statements by the Edtech Major Since the Financial Year 2020–21 (FY21)

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Brought More FDI to India Than Any Other Startup, Complying With All Applicable Norms: Said BYJU’S CEO in an Email to All Employees

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Further Investigations Into the Matter Are On. The Agency Said That the Probe Was Undertaken Based on Complaints Filed by Various Private Persons.

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