India’s criminal offense-fighting company searched a few premises of edtech giant Byju’s and its founder Byju Raveendran, it explained Saturday, and seized many “incriminating” files and digital knowledge.
The Enforcement Directorate said it performed the searches beneath the provisions of the nation’s anti-money laundering regulation, but declined to elaborate. The agency has performed quite a few identical probes in modern months, like at crypto agency WazirX, phonemaker Vivo and information broadcaster the BBC.
The Bengaluru-headquartered Byju’s, which is India’s most important startup and which counts BlackRock, Sequoia India, Lightspeed Venture Partners India, UBS among the its backers, termed the lookups as “a routine inquiry,” and stated the startup maintains complete transparency with the authorities.
“We have nothing at all but the utmost self confidence in the integrity of our functions, and we are dedicated to upholding the greatest criteria of compliance and ethics. We will go on to get the job done carefully with the authorities to be certain that they have all the data they want, and we are assured that this issue will be settled in a well timed and satisfactory way. We want to emphasize that it is business as normal at Byju’s,” a spokesperson of Byju’s legal workforce stated in a assertion.
“We are dedicated to delivering substantial-high quality instructional merchandise and solutions to our consumers across India and the entire world. We keep on being focused on our mission to completely transform the way learners find out and get ready for their long term.”