Karnataka labour minister urges Byju's to settle dues of former employees

Karnataka Labour Minister Santosh Lad met representatives of Think and Learn Pvt Ltd, the parent company of embattled ed-tech firm Byju's, on July 1, urging them to settle outstanding dues owed to former employees.

Following the meeting with Byju's representatives at Vikasa Soudha in Bengaluru, Lad told Moneycontrol, "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. They have informed us that their funds are in an escrow account with the National Company Law Tribunal (NCLT) and a hearing of the case is scheduled on July 4. Following this, they will provide us with an update on the action taken to clear the dues."

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He said around 160 to 200 employees had 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 added.