ED seizes funds worth Rs 8.26 crore of Chinese-owned education company in Bengaluru
New Delhi, May 19 (PTI) The Enforcement Directorate on Friday said it has seized funds worth Rs 8.26 crore of a Bengaluru-based online education company, fully owned and controlled by Chinese nationals, as part of a probe linked to the alleged contravention of the foreign exchange law.
The funds of Pigeon Education Technology Private Limited have been seized under Section 37A of the Foreign Exchange Management Act (FEMA), it said in a statement.
The company provided online education under the brand name “Odaclass”, it said.
