Byju’s argued before the National Companies Law Appellate Tribunal (NCLAT) that Riju Raveendran, a director and brother of founder Byju Raveendran, infused Rs 2,600 crore into the company to sustain business operations and pay salaries to its 27,000 employees. This move helped BYJU’S avoid bankruptcy proceedings; however, employees are still awaiting the salaries that the funds were meant to cover.
According to a DH report, several former employees revealed that they had not received their salaries for several months before leaving the company. Furthermore, the company still owed other dues, including gratuity payments. Employees have begun to consider collective action and are pursuing the legal route. The 27,000-strong workforce includes approximately 20,000 employees from Aakash Educational Services, which Byju’s acquired in 2021.
Reportedly, the former employees received a part of their salaries in February but nothing since, despite working until April. They also noted issues with getting responses to emails regarding income tax documents and pay slips. Current employees have reportedly been informed that the company will need until December this year to make payments.
Insiders indicate that gratuity is pending for those who have completed five years, and the company has not paid Tax Deducted at Source (TDS) since April. While the company plans to pay the overdue salaries, there appears to be no clear timeline.
