02/03/2024
's was unable to pay salaries to employees as the funds raised through a recent rights issue have been locked in a "separate account" due to the ongoing dispute with the investors, founder Byju Raveendran said on March 2.
"Unfortunately, a select few (4 out of our 150+ investors) have stooped to a heartless level, ensuring that we are unable to utilize the funds raised to pay your hard-earned salaries. At their behest, the amount raised through the rights issue is currently locked in a separate account," said Raveendran, in a letter to Byju's employees...