Fully complaint with FEMA regulations, Byju’s tells shareholders

Byju Raveendran, the founder and CEO of Byju's, has assured shareholders that the edtech startup is compliant with regulations and denies allegations of forex violations. Raveendran cited a due diligence process conducted by a law firm that found no violations. The Enforcement Directorate (ED) had alleged forex violations amounting to Rs 9,000 crore by Byju's, but the company denies receiving any notice from the ED. Byju's is currently trying to sell assets to repay a term loan and has faced scrutiny and valuation markdowns in recent months.

Disclaimer : Mytimesnow (MTN) lets you explore worldwide viral news just by analyzing social media trends. Tap read more at source for full news. The inclusion of any links does not necessarily imply any endorsement of the views expressed within them.