July’s salary not paid as firm yet to get control of accounts: Byju’s CEO

Edtech firm Think and Learn, which owns Byju’s brand, has not paid the July salary to employees as the company was unable to access its accounts due to a temporary stay granted by the Supreme Court on the NCLAT’s decision, a top official said on Tuesday.

On August 2, the National Company Law Appellate Tribunal (NCLAT) approved the Rs 158.9 crore dues settlement with BCCI and set aside insolvency proceedings against Byju’s. However, the Supreme Court on August 14 stayed the verdict of the insolvency appellate tribunal setting aside the insolvency proceedings against the ed-tech major based on a plea of US-based creditor Glas Trust Company LLC.