Edtech company Byju's resumes salary payments after a two-month delay due to investor dispute.
Edtech company Byju's has begun paying salaries for March after a two-month delay, which resulted from a dispute with investors Prosus NV, Peak XV Partners, General Atlantic, and Sofina SA. Byju's arranged an alternative line of credit to ensure timely payments. The funds from the company's $200 million rights issue have been held in an escrow account by the National Company Law Tribunal (NCLT) until the investor dispute is resolved.
April 08, 2024
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