The Enforcement Directorate (ED) issues a show-cause notice to edtech giant Byju’s, alleging Foreign Exchange Management Act (FEMA) violations amounting to Rs 9,362.35 crore. The ED’s inquiry, triggered by complaints about foreign investments in Byju’s parent company, revealed alleged contravention of FEMA provisions and loss of revenue to the Indian government. Byju’s maintains compliance with FEMA regulations, communicating a cooperative stance with the ED. Despite investor assurances, the company faces heightened scrutiny amid existing challenges. Earlier searches and seizures at Think and Learn’s premises and founder Byju Raveendran’s residence form part of the ongoing investigation.