Key Points
The Enforcement Directorate (ED), days after searching premises linked to Byjus for alleged Foreign Exchange Management Act (FEMA) compliance issues, is planning to approach its lenders to seek more details on the edtech major's funding and loan transactions..
Days after searching premises linked to Byju's in its probe linked to FEMA compliance, the ED now plans to seek more details on the edtech major's funding and loan transactions from its lenders and banks, sources told us...
CEO speaks: Byju's has taken all efforts to fully comply with all applicable foreign exchange laws and all our cross-border transactions have been duly vetted by both its professional advisors/counsel and advisors/counsel of the investment funds and other sophisticated counterparties, Raveendran told his employees in a late email on Saturday after the news broke about ED searches...
Digital payments major Pine Labs joins the growing list of new-age technology companies deferring their initial public offerings (IPO) due to the turbulence in the technology world...
VC fund General Catalyst stresses on governance in Indian startups: US-based venture capital fund General Catalyst, which has backed the likes of tech firms such as Stripe, Snap and Airbnb, has stepped up its focus on governance in Indian startups amid rising cases of financial irregularities in recent months...
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