Byju’s starts paying March salary to staff

New Delhi, April 9

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Edtech firm Think and Learn, owner of Byju’s brand, has started paying March salaries to its employees after a delay of nine days and the payout process is expected to complete in next 10 days, according to sources.

The company in a communication to employees blamed the group of four investors for the delay. “We are pleased to inform you that salary disbursement has commenced today and will be completed over the next 10 days. Unfortunately, despite our efforts, we haven’t yet secured approval to access the rights issue funds, because of the action of four foreign investors. However, we have arranged an alternative line of credit to ensure timely payments,” Byju’s said.