The Enforcement Directorate on May 18 said it has seized funds worth ₹8.26 crore of a Bengaluru-based online education company, fully owned and controlled by Chinese nationals, as part of a probe linked to the alleged contravention of the foreign exchange law.
The funds of Pigeon Education Technology Private Limited have been seized under Section 37A of the Foreign Exchange Management Act (FEMA), it said in a statement.
The company provided online education under the brand name "Odaclass", it said.