According to sources, the Directorate of Enforcement (ED) has requested that the Bureau of Immigration issue a watchful notice against Byju Raveendran, the founder of the tech company India Bjyu’s, which is currently experiencing a problem. The intention is to stop Raveendran from departing the nation.
This event reportedly occurred ahead of this Friday’s highly anticipated Extraordinary General Meeting (EGM), when rumors circulated that confident investors were trying to remove Raveendran from office.
On Wednesday, the Karnataka High Court issued an order requesting that Byju’s shareholders postpone implementing any resolutions from the EGM until the last hearing. The decision was made in response to Byjus’s petition seeking the court to stop shareholders from hosting the EGM.
The court has not halted the EGM but postponed any resolutions until the last hearing. The case will be heard by the court again on March 13. Allegations of foreign exchange violations are one of Byju’s problems, which is probably why the central agency is pushing for the LOC against Raveendran.
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