April Pay Delayed! What's Next?

Published On: May 03, 2024 - Byju's, the prominent Edtech firm, is in the spotlight as it grapples with a delay in paying April salaries to its employees. Last month, founder and CEO Byju Raveendran secured a private debt of approximately Rs 30 crore to ensure the payment of March salaries. However, the company now faces another hurdle with April salaries pending. Byju's attributes this delay to funds raised through a recent rights issue, which are currently inaccessible due to an ongoing dispute with investors.