Byju’s Asked To Pay ₹ 9,000 Crore For Violating Foreign Funding Laws

New Delhi: 

The Enforcement Directorate (ED) has issued a notice to edtech major Byju’s, asking it to pay ₹ 9,000 crore for allegedly violating foreign funding laws, sources have said. 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 ₹ 28,000 crore between 2011 and 2023. The edtech major, the sources said, remitted around 9,754 crore to foreign jurisdictions during the same period in the name of overseas direct investment.