Karnataka Minister Asks Byjus To Pay ₹4.5 Cr Due Of 160-200 Ex-workers

Karnataka Labour Minister Santosh Lad met with Think and Learn Pvt Ltd, the parent company of Byju's, on July 1. 

Lad urged Byju's parent company to settle 50% of outstanding dues to former employees, amounting to around ₹ 4.5 crore, with the rest to be paid later. 

Byju's representatives mentioned that their funds are in an escrow account with the National Company Law Tribunal, and they promised to provide an update after a hearing scheduled for July 4.

Karnataka Labour Minister Santosh Lad urged Byju's parent company, Think and Learn Pvt Ltd, to settle at least 50% of the Rs 4.5 crore outstanding dues owed to former employees. Byju's representatives said their funds are in an escrow account with the NCLT, with a hearing scheduled on July 4. They will provide an update after the hearing.

Lad told Moneycontrol, "I have instructed them to settle at least 50% of the dues owed to former employees at the earliest, with the remaining 50% to be paid in due course. They have informed us that their funds are in an escrow account with the National Company Law Tribunal (NCLT) and a hearing of the case is scheduled on July 4. Following this, they will provide us with an update on the action taken to clear the dues."

Outstanding Salary Dues:

Minister Lad added that around 160 to 200 former employees had approached the labour department, with total outstanding dues amounting to around ₹ 4.5 crore. 

Byju's, once India’s most valued startup, faces challenges from various authorities including the Board of Control for Cricket in India, the Enforcement Directorate, the National Company Law Tribunal, and the Employees' Provident Fund Organisation.