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ED issues look out notice against Byju Raveendran?

ED issues look out notice against Byju Raveendran?

The Directorate of Enforcement (ED) has asked the Bureau of Immigration to issue a look out notice against Byju Raveendran, the founder of the in-crisis edtech company Bjyu's, according to sources.

The aim is to prevent Raveendran from leaving the country.

Reportedly, this development comes ahead of a high-stakes Extraordinary General Meeting (EGM) scheduled for this Friday, where it was reported that certain investors were seeking to oust Raveendran from his position.

On Wednesday, the Karnataka High Court had passed an order asking Byju's shareholders not to bring in effect any resolutions during the EGM until the final hearing. The order was on a petition filed by Byjus asking the court to restrain shareholders from holding the EGM.

While the court has not stayed the EGM it has kept any resolutions in abeyance till the final hearing. The court will next hear the matter on March 13.


Tags: ED Byju Raveendran