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ED Seizes Rs. 8.26 Crore in Case Against Pigeon Education Technology, Alleges Firm Is Chinese Owned

ED Seizes Rs. 8.26 Crore in Case Against Pigeon Education Technology, Alleges Firm Is Chinese-Owned

"An amount of Rs 82.72 crore has been siphoned to China and Hong Kong from the company under the pretext of advertising expenses," ED said.

By ANI | Updated: 19 May 2023 16:56 IST

ED Seizes Rs. 8.26 Crore in Case Against Pigeon Education Technology, Alleges Firm Is Chinese-Owned

Photo Credit: Pexels/ Vanessa Garcia

ED investigation revealed that the Pigeon Education Technology was owned by Chinese national

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Highlights

Pigeon Education Technology could not produce proof of receipt of service
The payment was made only on the instructions of Chinese director Liu Kan
The said advertisements were published through Google and Facebook

The Enforcement Directorate (ED) has seized Rs 8.26 crore in a case against Pigeon Education Technology India Private Limited under provisions of the Foreign Exchange Management Act (FEMA), 1999, according to an official statement issued on Friday.

In its statement, the ED said that an investigation found that the company was owned by Chinese nationals and all the affairs of the company including financial decisions are being taken by the persons sitting in China.

"An amount of Rs 82.72 crore has been siphoned to China and Hong Kong from the company under the pretext of advertising expenses and marketing expenses on the instructions of Chinese director Liu Can," it said.

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"The company could not produce any proof of receipt of service on its part and proof of any advertisement published against the said expenses. Further, the director and accounts manager of the company has also admitted during the investigation that the payment was made only on the instructions of Chinese director Liu Kan," ED said in its statement.

"The Indian director of the company, Vedanta Hamirwasia stated that the Chinese director told them that the said advertisements were published through Google and Facebook, however, no confirmation or invoice raised by these platforms has been submitted," ED said.

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