New Delhi: The Enforcement Directorate (ED) issued show cause notice on Tuesday byju’s Allegedly violating foreign exchange norms worth Rs 9000 crore.
The company has been charged under the Foreign Exchange Management Act (FEMA).
Denying the allegations, the company said, “Byju’s categorically denies the media reports stating that it has received a notice from the Enforcement Directorate. The company has not received any such communication from the Enforcement Directorate.”
The company has been charged under the Foreign Exchange Management Act (FEMA).
Denying the allegations, the company said, “Byju’s categorically denies the media reports stating that it has received a notice from the Enforcement Directorate. The company has not received any such communication from the Enforcement Directorate.”
The notice was sent to Byju’s founder Byju Raveendran and its parent company Think and Learn Private Limited.
These claims come after a number of setbacks for the company, including a downgrade in its valuation from investors and the resignation of its auditor and board members.
with agency input
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