In response to recent rumours of an investigation by India’s Enforcement Directorate (ED), BYJU’S, an Indian education technology business, said the ED’s visit was a “routine inquiry” and the company will fully comply with the authorities.
Investors and clients of the business were alarmed by reports that the ED, India’s financial investigative agency, had visited BYJU’s premises. BYJU’S has attempted to minimise the occurrence, saying that it is dedicated to abiding by all relevant laws and regulations.
The company, with a valuation of more than $16 billion, has grown to become one of India’s most prosperous edtech companies. It provides students in India and other countries with a variety of online courses and services.
It is yet unclear how the ED investigation will turn out and whether it will have an effect on BYJU’s commercial activities or reputation.
