BREAKING | 'Do Not Leave India': ED Issues Lookout Notice Against BYJU's CEO Raveendran

New Delhi: The Enforcement Directorate (ED) on Thursday issued a lookout notice against Byju's CEO Byju Raveendran. The probe agency has asked the entrepreneur not to leave India. Raveendran has been issued an LOC (Lookout Circular) on intimation for more than eighteen months. 

Initially initiated by the Enforcement Directorate's (ED) Kochi office, it was later transferred to the agency's Bengaluru branch for further investigation, according to a report by the Economic Times.

Over the past three years, BYJU's CEO has frequently travelled between Delhi, Dubai, and Bengaluru, with recent visits to Delhi and Bengaluru. Despite currently being in Dubai and planning a trip to Singapore, a decision was made by a senior government official to request a revised LOC from the Bureau of Immigration (BOI) to prevent Raveendran from leaving the country upon his return. This action was taken to safeguard investor interests.

Last November, the agency issued show-cause notices to Byju's parent company, Think & Learn Pvt Ltd, and Raveendran himself, alleging FEMA (Foreign Exchange Management Act) violations totalling Rs 9,362.35 crore.