The company has, however, denied receiving any such communication from the authorities.
According to sources in the ED, Byju’s received foreign direct investment (FDI) of around Rs 28,000 crore between 2011 and 2023. The ed-tech major, the sources said, remitted around 9,754 crore to foreign jurisdictions during the same period in the name of overseas direct investment.
The ed-tech major has posted on its official X handle that it has not received any such communication. “Byju’s unequivocally denies media reports that insinuates Byju’s of any FEMA violation. The company has not received any such communication from authorities,” the statement said. The ED’s notice is the latest development in the unravelling of what was India’s most valued start-up at one time.
Diese Geschichte stammt aus der November 22, 2023-Ausgabe von The Daily Guardian.
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Diese Geschichte stammt aus der November 22, 2023-Ausgabe von The Daily Guardian.
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