Edtech firm Think and Learn, which operates under the Byju’s brand, has not paid July salaries to its employees due to complications arising from a Supreme Court stay on the NCLAT’s decision, a senior official revealed on Tuesday, according to a PTI report.
On August 2, the National Company Law Appellate Tribunal (NCLAT) approved a Rs 158.9 crore settlement with the BCCI and dismissed insolvency proceedings against Byju’s. However, on August 14, the Supreme Court issued a stay on the NCLAT’s ruling, following a petition by the US-based creditor Glas Trust Company LLC. This stay has temporarily prevented the company from accessing its accounts.
In an email to employees, Byju Raveendran, founder and CEO of…
