Karnataka Labour Minister Santosh Lad has urged Think and Learn Pvt Ltd, the parent company of beleaguered ed-tech firm Byju’s, to expedite the settlement of outstanding dues to former employees. The minister met with Byju’s representatives on July 1 at Vikasa Soudha, stressing the need for prompt action.
“I have instructed them to settle at least 50% of the dues owed to former employees at the earliest, with the remaining 50% to be paid in due course,” Lad told Moneycontrol. The company indicated that their funds are currently in an escrow account with the National Company Law Tribunal (NCLT), with a hearing scheduled for July 4. “Following this, they will provide us with an update on the action taken to clear the dues,” Lad added.
Approximately 160 to 200 former employees have approached the labour department, with total outstanding dues amounting to around Rs 4.5 crore. “Few employees have approached us in person, while most have sent emails to our department,” Lad noted.
Mohammad Mohsin, principal secretary of the labour department, told Moneycontrol, “They have assured us that they will settle all dues within a month of receiving a relief order from the NCLT.”
The labour department has received numerous complaints via email from former Byju’s employees, alleging they have not received their full and final settlements months after their termination.
This issue is one among many challenges facing Byju‘s, once India’s most valued startup. The firm is currently dealing with complications involving the Board of Control for Cricket in India, the Enforcement Directorate, the National Company Law Tribunal, and the Employees’ Provident Fund Organisation.
