ED Notice to Byju's for Rs 9K-cr Fraud

NEW DELHI: The Enforcement Directorate (ED) on Tuesday said the Adjudicating Authority under the Foreign Exchange Management Act (FEMA) has issued show-cause notices to ed-tech major BYJU’S promoter Byju Raveendran and his Bengaluru-based Think & Learn Private Limited for contravention of the forex law to the tune of Rs 9,362.35 crore.

The notices were issued on the basis of the complaint filed by the ED under FEMA for violation of the foreign exchange law, the agency said.