Byju Raveendran, Founder of the cash-strapped edtech firm BYJU’S, in an email, told employees that their July salaries would be paid once he regains control of the company amid growing concerns of insolvency.
“Your salary for July 2024 has not been credited yet…The apex court has issued a temporary stay on the NCLAT’s decision, which means the control of the company’s accounts has not yet been restored to us,” Raveendran said in the email as seen by YourStory.
“I guarantee this: When we regain control, your salaries will be paid promptly, even if that means raising more personal debt,” he added.
The financially struggling company has repeatedly delayed employee salaries in recent months. While it claims to have paid all…
