‘Pleased to inform’: Byju’s begins salary payout after delay of 2 months

Edtech firm Byju’s has started salary payments after delaying them for the past two months. This comes as the company is barred from using the proceeds of a recently floated rights issue.

“We are pleased to inform you that salary disbursement has commenced today and will be completed over the next 10 days,” said Byju’s in an email to its employees on Monday.

The company further said that despite its efforts, it has not yet secured approval to access the funds from the rights issue. This delay is due to the actions of four of its investors.