ED Tightens Noose Around Byju’s, Searches CEO’s Premises For FEMA Violations

In this video, we’ll be discussing the latest news about the ED’s investigation into Byju’s, India’s largest ed-tech company. The ED has tightened its noose around the company’s CEO for alleged FEMA violations related to foreign investments. Byju’s is accused of receiving ₹28,000 crore in FDI between 2011-2023 and sending ₹9,754 crore to foreign entities in the name of overseas direct investment. During the searches at the CEO’s premises, the ED has seized incriminating documents. Byju’s is also being investigated for not preparing financial statements since 2020-21 and spending ₹944 crore on advertising and marketing, including remittances to foreign jurisdictions. The founder and CEO, Byju Raveendran, remains evasive, despite ED summonses. This investigation was triggered by complaints from private persons.

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