India tax officials search edtech UpGrad offices

Officials from India’s GST tax department are searching the offices of UpGrad, an edtech unicorn that counts Temasek, James Murdoch’s Lupa Systems and World Bank’s International Finance Corporation among its backers, the startup said Wednesday.
“It’s a routine survey and we are fully compliant and cooperating with the GST department,” said Koell Hemdev, Head of Legal at UpGrad, in a statement.
The startup, founded by Ronnie Screwvala (pictured above), has raised $600 million altogether and was valued at $2.25 billion last year.
Reuters first reported about the searches

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