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The Enforcement Directorate (ED) conducted searches at two locations in Bengaluru unearthing online education racket allegedly run by Chinese nationals.
The ED stated that Pigeon Education Technology India Private Ltd which is providing online education in the name of ‘Odaclass’, is 100% owned by Chinese national Liu Can. Vedant Hamirwasia is another Director of the company which “remitted around ₹82 crore to China in the name of marketing expenses on the instructions of Liu Can without having proof of availing any services from the beneficiary entity,” charged the ED.
The company is part of a group consisting complex web of entities having ultimate controlling company in Cayman Island, said the agency. The Chinese director is Authorised Signatory in all the bank accounts of the Pigeon Education maintained in India but is operated virtually from that country.
During searches, ED claims to have seized various incriminating documents and back-up from electronic devices extracted forensically for probe being carried under the provisions of Foreign Exchange Management Act (FEMA). Role of the earlier directors of the company, Sushant Srivastava, Priyanka Khandelawal and Himanshu Garg who had resigned last year is also under investigation, informed the ED.
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