ED Wants Look Out Circular Against Byju’s Founder Raveendran

[ad_1]

The LOC ‘on intimation’ results in immigration authorities informing a probe agency about the individual going overseas

Look-out circular (LOC) ‘on intimation’ has already been issued against Byju Raveendran

The Enforcement Directorate (ED) has reportedly requested the Bureau of Immigration (BOI) to issue a lookout circular (LOC) against Byju Raveendran, the founder and CEO of Byju’s, the embattled edtech company bearing his name.

According to a report by ET, the central agency made this request to the BOI earlier this month to secure a new LOC, ensuring Raveendran remains within the country’s borders.

An “on intimation” lookout circular (LOC) has previously been issued against Raveendran. This action was taken over a year and a half ago following a request from the Enforcement Directorate’s (ED) Kochi office. Subsequently, the investigation was transferred to the Bengaluru office of the agency.

The “on intimation” LOC entails immigration authorities notifying an investigative agency when an individual travels overseas, without preventing the person from departing the country.

[ad_2]

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *