Why Enforcement Directorate has restricted Byju Raveendran from leaving India?
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Acting on the Enforcement Directorate's (ED) order, the Bureau of Immigration (BOI) has issued a lookout circular (LOC) against Byju Raveendran, the founder and CEO of BYJU'S. The move prevents Raveendran from leaving the country while ED investigates alleged violations of Rs. 9,362.35 crore under the Foreign Exchange Management Act (FEMA). An LOC 'on intimation' was previously issued against him in 2022 which required immigration authorities to inform ED about Raveendran's foreign travel.