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Byju's says it has paid some part of salaries for 20,000 employees

Economic Times · 1y

Edtech company Byju's has partially paid the salaries of around 20,000 employees for February. The remaining balance will be paid once the company can access funds from its rights issue. The salaries are expected to reflect in employees' accounts by March 11. Byju's has made alternate funding arrangements to ensure minimal disruption to employees' lives. Additionally, four investors of Byju's have filed caveats in the Supreme Court, requesting to be heard before any order is passed regarding a petition against a National Company Law Tribunal order. The NCLT is still deciding on whether the rights issue can proceed.