- The Enforcement Directorate (ED) has issued a show-cause notice to Byju’s, accusing it of Foreign Exchange Management Act (FEMA) violations amounting to Rs 9,000 crore.
- Byju’s has denied receiving any notice and refuted media reports suggesting such a violation.
- This comes amidst a series of crises for the edtech company, including a cash crunch, missed loan payments, and the resignation of board members.
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