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Fully complaint with FEMA regulations, Byju’s tells shareholders
![IndiaTimes]()
Tuesday, 21 November 2023
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 violations. Raveendran cited a due diligence process conducted by a law firm that found no violations. The Enforcement Directorate (ED) had alleged forex violations amounting to Rs 9,000 crore by Byju's, but the company denies receiving any notice from the ED. Byju's is currently trying to sell assets to repay a term loan and has faced scrutiny and valuation markdowns in recent months.
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Tuesday, 21 November 2023
