ANI sources have revealed that the Enforcement Directorate (ED) has issued a Look-Out Circular (LOC) from the Bureau of Immigration (BOI) against Byju Raveendran, founder and CEO of an embattled edtech company.
Earlier this month, the central agency requested that BOI issue a new LOC to ensure that Raveendran stays in the nation.
The challenges facing Byju Raveendran, CEO of the well-known online edtech platform BYJU‘s, are increasing. Today, ED searched three of Raveendran’s locations.
Byju Raveendran’s three Bengaluru sites were raided by the Enforcement Directorate (ED) on Saturday. These searches were carried out at three of Byju Raveendran’s businesses, Think and Learn Private Limited. ED has seized a large number of documents and digital material in this raid.
These raids by the ED were related to the Foreign Exchange Management Act (FEMA) and were performed at the offices of Ravindran Byju and his business, Think and Learn Pvt Ltd. The ED has taken documents and digital data during the operations.
