ED carries out searches against Chinese owned Bengaluru-based online education company

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 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 name 'Oda Class', under provisions of Foreign Exchange Management Act (FEMA).

" 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," ED said in a statement.

present directors of company, it said, are Liu Can, a Chinese national, and Vedant Hamirwasia.

" entire affairs of company are controlled by Liu Can from China and Indian director has no control or access to affairs of company and he follows all instructions of Chinese persons," agency claimed.

Chinese director is authorised signatory in all bank accounts of company maintained in India and same are being operated online through China, it said.

" company remitted around Rs 82 crore to China in name of marketing expenses on instructions of Chinese persons without having proof of availing any services from beneficiary entity," it ded.

During searches, incriminating documents and forensic data from electronic devices have been seized and role of former directors of company, Sushant Srivastava, Priyanka Khandelawal and Himanshu Garg (who have resigned last year), is also under investigation, ED said.