National Company Law Tribunal directs edtech firm Byju’s to pay employee salaries

The National Company Law Tribunal (NCLT) has directed edtech firm Byju’s to pay employee salaries even if it does not have access to the funds raised from a rights issue.

The Bengaluru bench of the tribunal also warned of an audit by the Institute of Chartered Accountants of India (ICAI) if it failed to pay the employees.

The NCLT was hearing a plea by the start-up’s staff. “You are a company that is functioning. Surely you should be having revenues,” the bench reportedly said.