NCLT asks Byju’s to pay salaries to employees, warns firm of facing audit

The National Company Law Tribunal (NCLT) ‘asked’ Byju’s on Thursday to pay salaries to its employees regardless of whether the cash-strapped edtech firm had access to the funds raised through its rights issue. The tribunal also warned the company that the failure to pay its staff would attract an audit by the Institute of Chartered Accountants of India (ICAI).

According to sources, it was an oral comment passed by the quasi-judicial body in response to the petition filed by the employees last month, seeking relief related to the payment of salaries.