News On Time
Breaking
🔴 Chief Minister Shri Vishnu Deo Sai calls for active youth participation in building a developed Chhattisgarh 🔴 Union Cooperation Secretary lauds Bastar’s ‘Cafe Pandum’ as a model of rehabilitation and self-reliance 🔴 From Fear to Hope: Delhi Influencers Witness Bastar’s Transformation 🔴 Drug-Free and Healthy Chhattisgarh Will Lay the Foundation for a Developed Chhattisgarh: Chief Minister Shri Vishnu Deo Sai 🔴 Providing Employment Opportunities to Youth, Accessible Services to Citizens and Equipping Youth with Modern Skills Our Priority: Chief Minister Shri Vishnu Deo Sai 🔴 Chhattisgarh aims to build a complete mineral value chain within the state, covering exploration, mining, processing, value addition, advanced manufacturing and recycling: Chief Minister Shri Vishnu Deo Sai 🔴 TIN Portal a ‘Mineral-to-Livelihood’ Initiative Linking Mineral Resources with Tribal Livelihoods: Chief Minister Shri Vishnu Deo Sai 🔴 Chief Minister Shri Vishnu Deo Sai Launches ‘E-Ret Sangwari’ Portal 🔴 ‘Mann Ki Baat’ gives national recognition to grassroots innovations, inspiring efforts: Chief Minister Shri Vishnu Deo Sai 🔴 No Compromise on Integrity of Examinations; Strict Action Against Irregularities: Chief Minister Shri Vishnu Deo Sai 🔴 Chief Minister Shri Vishnu Deo Sai calls for active youth participation in building a developed Chhattisgarh 🔴 Union Cooperation Secretary lauds Bastar’s ‘Cafe Pandum’ as a model of rehabilitation and self-reliance 🔴 From Fear to Hope: Delhi Influencers Witness Bastar’s Transformation 🔴 Drug-Free and Healthy Chhattisgarh Will Lay the Foundation for a Developed Chhattisgarh: Chief Minister Shri Vishnu Deo Sai 🔴 Providing Employment Opportunities to Youth, Accessible Services to Citizens and Equipping Youth with Modern Skills Our Priority: Chief Minister Shri Vishnu Deo Sai 🔴 Chhattisgarh aims to build a complete mineral value chain within the state, covering exploration, mining, processing, value addition, advanced manufacturing and recycling: Chief Minister Shri Vishnu Deo Sai 🔴 TIN Portal a ‘Mineral-to-Livelihood’ Initiative Linking Mineral Resources with Tribal Livelihoods: Chief Minister Shri Vishnu Deo Sai 🔴 Chief Minister Shri Vishnu Deo Sai Launches ‘E-Ret Sangwari’ Portal 🔴 ‘Mann Ki Baat’ gives national recognition to grassroots innovations, inspiring efforts: Chief Minister Shri Vishnu Deo Sai 🔴 No Compromise on Integrity of Examinations; Strict Action Against Irregularities: Chief Minister Shri Vishnu Deo Sai

Search News

अपनी पसंद की खबर खोजें

Politics National World State Business Education Health Sports Entertainment Crime Technology Social Media
होम National Byju’s CEO Raveendran’s Offices Searched By ED
Byju’s CEO Raveendran’s Offices Searched By ED
National

Byju’s CEO Raveendran’s Offices Searched By ED

News On Time Desk 29 April 2023
Share :

Bengaluru (News on time)| The Enforcement Directorate on Saturday carried out searches at the three premises of Byju Raveendran, the founder and chief executive officer of ‘Think and Learn Private Ltd’ that runs edtech platform under the name of Byju’s.

The company runs popular online education portal in the name of Byju’s. During the search and seizure action various incriminating documents and digital data was seized.

The searches revealed that the ed-tech unicorn has received foreign direct investment (FDI) to the tune of ?28,000 crore (approx) during 2011-2023.

Further, the company has also remitted roughly ?9,754 crore to various foreign jurisdictions during the same period in the name of overseas direct investment.

Byju and his firm Think & Learn Pvt Ltd has booked around ?944 crore in the name of advertisement and marketing expenses including the amount remitted to the foreign jurisdiction.

Besides, the company has not prepared its financial statements since FY 2021. and has not got the accounts audited, according to the press statement.

The probe against the platform was initiated based on various complaints received from private persons.

During the investigation conducted by the ED, several summonses were issued to the founder Byju Raveendaran, however, he remained evasive, the press statement added.

Further investigation is under process.

Tags :