New Delhi: The Enforcement Directorate on Thursday said it carried out searches against a Bengaluru-based online education company, fully owned and controlled by Chinese nationals, for allegedly violating the foreign exchange law and remitting Rs 82 crore to China ‘illegally’.
ED sleuths searched two locations of Pigeon Education Technology India Pvt Ltd, which provides online education under the name ‘Oda Class’, under the provisions of the Foreign Exchange Management Act (FEMA).
“The company is 100 per cent owned by Chinese nationals and is part of a group consisting complex web of entities having ultimate controlling company in Cayman Islands,” the ED said in a statement.
