Trouble mounts! ED seeks look out circular against Byju Raveendran

The Directorate of Enforcement (ED) has requested the Bureau of Immigration (BOI) to issue a look out circular (LOC) against Byju Raveendran, the founder and CEO of Byju's. The ED's Kochi office had previously opened an LOC 'on intimation' against Raveendran, but the investigation was later transferred to the Bengaluru office. The Bengaluru office of the ED, which is currently investigating alleged Foreign Exchange Management Act (FEMA) violations, believes that a fresh LOC should be issued to prevent Raveendran from leaving the country.