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The Hindu

National

The Hindu Bureau

ED raid on edutech unicorn Byju’s in Bengaluru under ‘FEMA violations’

The Directorate of Enforcement (ED) searched the premises of Think & Learn Private Limited, which runs the online private education portal Byju’s, in Bengaluru on April 29.

The ED raided two business premises linked to the company and one residential property linked to Byju’s founder Raveendran Byju in Bengaluru under provisions of Foreign Exchange Management Act (FEMA).

A statement by the ED revealed that ₹28,000 crore of Foreign Direct Investment (FDI) into the company, and ₹9,754 crore overseas direct investment by the company are under the scanner.

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