The company is charged under the Foreign Exchange Management Act (Fema).
Denying the allegations, the company said, “Byju’s unequivocally denies media reports that insinuate it has received a notice from the Enforcement Directorate.The company has not received any such communication from the Enforcement Directorate”.
The notice was served to Byju Raveendran, Byju’s founder and its parent firm Think & Learn Pvt Ltd.
The claims come after a spate of setbacks for the company, including a drop in its valuation from investors and the resignation of its auditor and board members.
With agency inputs