The Enforcement Directorate carried out searches on three premises of the India’s tech-ed firm BYJU’s in Bangalore on Saturday.

ED had stated on its Twitter deal with that numerous incriminating paperwork and digital information was seized in the course of the search.

As per ED launch, one residential and two enterprise premises of BYJU’s had been searched.

“FEMA searches revealed that BYJU’s has acquired international direct funding to the tune of round Rs 28,000 crore in the course of the interval from 2011-2023”

“Additional, BYJU’s has additionally remitted round Rs 9,754 crore to numerous international jurisdictions throughout the identical interval within the identify of abroad direct funding. The corporate has booked round Rs 944 crore within the identify of commercial and advertising and marketing bills together with the quantity remitted to international jurisdiction”, the ED assertion stated.

The corporate has not ready its monetary statements since FY2020-21 and has not acquired the accounts audited which is necessary. Therefore, the genuineness of the figures supplied by the corporate is being cross examined from the banks, the enforcement company stated.

ED additional added that the investigation towards the platform was initiated on the premise of complaints acquired from numerous non-public individuals.

“Throughout investigation, a number of summons had been issued to the founder and chief govt officer Raveendaran Byju. Nevertheless, he at all times remained evasive and by no means appeared for investigation.”

And that additional investigation was below progress.

The corporate in its official assertion stated that the ED searches had been a part of “routine inquiry below FEMA.”

It additionally stated that the corporate has been clear with the authorities and has confidence within the integrity of its operations. “It’s enterprise as regular at Byju’s,” it added.