ED issues notice to Byju's for forex violations of Rs 900 crore

Tuesday, 21 November 2023
The Enforcement Directorate (ED) on Tuesday issued show-cause notice to Byju's for allegedly violating foreign exchange rules amounting to Rs 9000 crore. The company is charged under the Foreign Exchange Management Act (Fema). Denying the allegations, the company said, "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".

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Fully complaint with FEMA regulations, Byju’s tells shareholders

Byju Raveendran, the founder and CEO of Byju's, has assured shareholders that the edtech startup is compliant with regulations and denies allegations of forex...
IndiaTimes on November 21, 2023

ED issues notice to Byju's for forex violations of Rs 900 crore

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Fully complaint with FEMA regulations, Byju’s tells shareholders