Brought in Rs 28,000 cr FDI to India, says Byju Raveendran on ED raid

A day after the Directorate of Enforcement (ED) conducted searches and seizure action at the premises of Byju’s, the founder and chief executive officer of the edtech giant Byju Raveendran said that the company has taken all efforts to fully comply with all applicable foreign exchange laws.

“All our cross-border transactions have been duly vetted by both its (company’s) professional advisors and counsel and advisors and counsel of the investment funds and other sophisticated counterparties,” said Raveendran, in a letter addressed to the employees and reviewed by Business Standard.

“Additionally, all such transactions are routed only through regular banking channels (and) the RBI’s authorized dealer banks and the requisite documentation and statutory filings have been duly submitted.