ED will increase the scope of investigation in Byjus case, banks will be knocked on loans and transactions
Byjus’s troubles are not taking the name of ending. Now ED is preparing to investigate the entire horoscope of Byjus. For this, the Enforcement Directorate is asking the details of the transactions of the Byjus, wherever they have accounts in any bank. So that he can find out where is the problem. Now ED will investigate all the loans and transactions of Byjus. According to ED, the company is not giving them correct data and answers, so they have to knock on the doors of banks.
For this, ED has also written a letter to the loan lenders and banks related to the case. In this, all the details related to the loan or transaction have been sought from the banks. All this information has been sought from the year 2011 onwards.
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Sent many summons but did not get the answer
Let us tell you, through ED, FEMA i.e. Foreign Exchange Management Act is looking into the transactions of Edtech Unicorn from the year 2011. In this, he suspected many wrongdoings. After which ED sent several summons to Byjus for questioning but they did not get any response from Byjus. Acting on which, finally ED had to raid 3 places of Edtech Unicorn. ED got many official digital data during the raid and also recovered Rs 28000 crore. ED also found in the investigation that the company has sent out more than 9 thousand crores in the name of foreign investment.
Byjus said cooperated in ED’s investigation
ED is saying in the case of Byjus that he is not cooperating in the investigation. That’s why he is now asking the banks for details of all types of transactions from their loans to domestic and foreign. After the raid, Byju’s owner Ravindran wrote a letter to his employees saying that he is fully cooperating in the ED’s investigation. At the same time, he said that his company has not done any kind of rigging in the details.