Byju’s delays salary as funds remain stuck

IANS

New Delhi, April 1

Embattled edtech company Byju’s has once again delayed salaries for thousands of its employees for the second successive month, saying that a few “misguided foreign investors” obtained an interim order in late February which restricted the use of funds raised through the rights issue.

In an email to the employees on Monday, the company said, “We regret to inform you that there will again be a delay in the disbursement of salaries."

“We have full faith in the Indian judicial system and we eagerly await a favourable outcome that will enable us to utilise the funds raised through the rights issue,” it said.