ED seizes documents and data at BYJU

Byju Raveendran, CEO and founder of BYJU's, and his ed-tech company were subject to searches and seizures by the ED under the Foreign Exchange Management Act (FEMA).

A search and seizure action has been carried out under the Foreign Exchange Management Act (FEMA) at 3 premises related to Byju Raveendran, CEO and founder of BYJU's and his ed-tech company.

In Bengaluru, searches were conducted at two business locations and one residential location. During the search and seizure action, various incriminating documents and digital data were seized by the ED.

Additionally, the FEMA searches revealed that the company received foreign direct investment worth Rs 28,000 crore from 2011 to 2023. Also, the company has remitted Rs 9754 crore overseas in the same period.