Fresh troubles seem to be brewing at India’s most valued startup – BYJU’S. The Enforcement Directorate (ED) has found BYJU’S to have violated Foreign Exchange Management Act (FEMA) worth INR 9,000 Cr, as per a report.

The probing agency has sent a show cause notice to BYJU’S, the publication said.

However, the edtech giant has vehemently denied such claims. In a statement, BYJU’S said, “BYJU’S unequivocally denies media reports that insinuate it has received a (any) notice from the Enforcement Directorate. The company has not received any such communication from the Enforcement Directorate.”

Earlier this year, the ED conducted search and seizure operations at premises linked to edtech giant BYJU’S.

This is a developing story….

The post ED Finds FEMA Violation Worth INR 9,000 Cr By BYJU’S appeared first on Inc42 Media.

Fresh troubles seem to be brewing at India’s most valued startup – BYJU’S. The Enforcement Directorate (ED) has found BYJU’S to have violated Foreign Exchange Management Act (FEMA) worth INR 9,000 Cr, as per a report.

The probing agency has sent a show cause notice to BYJU’S, the publication said.

However, the edtech giant has vehemently denied such claims. In a statement, BYJU’S said, “BYJU’S unequivocally denies media reports that insinuate it has received a (any) notice from the Enforcement Directorate. The company has not received any such communication from the Enforcement Directorate.”

Earlier this year, the ED conducted search and seizure operations at premises linked to edtech giant BYJU’S.

This is a developing story….

The post ED Finds FEMA Violation Worth INR 9,000 Cr By BYJU’S appeared first on Inc42 Media.