Bengaluru: ByJuice is a Bengaluru-based startup providing education through digital technologies. The Enforcement Department said yesterday that raids were conducted at 3 locations related to this company.
ByJuice is a coaching company for school students and entrance exam candidates. ByJuice, which was started in 2011 with an investment of a few lakhs, has a current value of Rs 1.8 lakh crore.
In this case, the Enforcement Department has conducted raids at 2 offices and his house of Baiju Ravindran, the founder and CEO of Baijus.
The enforcement department said, “The raid was conducted on the basis of various complaints against Baiju Company. The present investigation yielded some important documents.
During 2011-2023, ByJuice received FDI of Rs.28,000 crore from abroad. Similarly, during this period, Rs.9,754 crore has been invested abroad on behalf of the company,” he said.
Regarding this test, Byju’s company said, “This is a routine test. Our company is strictly following all the rules. We are fully cooperating with the enforcement department’s investigation,” it said.