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Byju's CEO Raveendran in huge trouble over FEMA violations as ED...

The notices were issued based on a complaint alleging contraventions of the Foreign Exchange Management Act (FEMA) totalling Rs 9,362.35 crore.

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The Enforcement Directorate (ED) has urged the Bureau of Immigration to issue a look-out-circular (LOC) against Byju Raveendran, the CEO of educational technology company Byju’s, to prevent him from leaving the country without notifying the investigation officer. The move comes after the ED issued show cause notices to Think & Learn Private Limited, Byju's parent company, and Raveendran in November of last year. The notices were issued based on a complaint alleging contraventions of the Foreign Exchange Management Act (FEMA) totalling Rs 9,362.35 crore.

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