Byju’s delays salaries for 2nd month in a row amid rights issue dispute

Edtech major Byju’s is grappling with another setback as it faces delay in paying salaries to employees. The delay stems from funds raised through a recent rights issue, which have been locked in a ‘separate account’ due to the ongoing dispute with the investors.

Byju’s has about 15,000 employees. The company management including Byju Raveendran has assured the employees that regardless of the court verdict, they are following a parallel line of credit to ensure employees receive their March salary by April 8th. The employees were expected to get their salaries on Monday.