ED conducts searches at Byju Raveendran’s premises
The ed-tech firm's CEO has allegedly violated foreign funding laws
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Published: Apr 29, 2023 12:44 PM | 1 min read
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BYJU's CEO Byju Raveendran has come under the scanner of the Enforcement Directorate with searches being conducted at his two business and one residential premises, according to news reports. Several "incriminating documents and data" have been seized, the reports said.
The ed-tech firm's founder has been accused of violating foreign funding laws. Raveendran and his company have allegedly violated provisions under the Foreign Exchange Management Act.
The action was reportedly taken on the basis of complaints received by several people and because the CEO had remained "evasive" to ED's summons.
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