NEW DELHI: The Enforcement Directorate (ED) on Tuesday issued show-cause notice to Byju’s for allegedly violating overseas change guidelines amounting to Rs 9000 crore.
The firm is charged below the Foreign Exchange Management Act (Fema).
Denying the allegations, the corporate stated, “Byju’s unequivocally denies media reports that insinuate it has received a notice from the Enforcement Directorate.The company has not received any such communication from the Enforcement Directorate”.
The firm is charged below the Foreign Exchange Management Act (Fema).
Denying the allegations, the corporate stated, “Byju’s unequivocally denies media reports that insinuate it has received a notice from the Enforcement Directorate.The company has not received any such communication from the Enforcement Directorate”.
The notice was served to Byju Raveendran, Byju’s founder and its mother or father agency Think & Learn Pvt Ltd.
The claims come after a spate of setbacks for the corporate, together with a drop in its valuation from traders and the resignation of its auditor and board members.
With company inputs
