Indian edtech company Byju's delays employee salaries for 3 months due to fund access issues.
Byju's, an Indian edtech company, has delayed employee salaries for the third consecutive month, citing inability to access proceeds from a $200 million rights issue. A group of "misguided foreign investors" reportedly obtained an interim order in late February that restricted the usage of these funds. Byju's hopes to disburse salaries by April 8. The company has around 15,000 employees.
April 01, 2024
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