ED seeks lookout notice against BYJU’s founder

New Delhi, February 22

The Enforcement Directorate (ED) has requested the Bureau of Immigration to issue a lookout circular against Byju Raveendran, the CEO of ed-tech company Byju’s to ensure that he does not leave the country without intimating the investigation officer.

In November last year, the agency had issued showcause notices to Think & Learn Private Limited, the parent company of Byju’s, and Raveendran on the basis of a complaint filed against alleged contraventions of Foreign Exchange Management Act (FEMA) to the tune of Rs 9,362.35 crore.

According to reports, a fresh request with the Immigration Department has been made by the ED and the department is learnt to have opened a circular against him.

Shareholders vote to oust byju, family

Shareholders at Byju’s are set to vote on Friday on a resolution brought by some investors to oust founder CEO Byju Raveendran and his family members over alleged “mismanagement and failures”