The Enforcement Directorate (ED) has issued a lookout notice against Byju’s CEO Byju Raveendran, stopping him from leaving India. The ED on Thursday upgraded its Look out Circular (LC) issued Raveendran in connection with a FEMA probe. The earlier such alert meant that immigration authorities had to just intimate the agency about his movements through various ports.
Official sources said that the over one-year old LC was revised sometime back in light of investors’ concerns and ongoing adjudication of a FEMA contravention case against Raveendran and some others.