Netherlands-based tech investor Prosus NV has marked down Byju's valuation to under $3 billion, an 86 per cent decrease from its peak valuation of $22 billion last year. The Enforcement Directorate (ED) also recently issued a show cause notice of Rs 9,362 crore to Think & Learn, and its founder Byju Raveendran for alleged violations of foreign exchange rules in attracting foreign investments from 2011 to 2023.