Byju’s woes: Karnataka Labour Minister asks parent company ’Think and Learn’ to settle dues of former employees
Karnataka Labour Minister directs Think and Learn Pvt Ltd, the parent company of Byju's, to settle overdue salaries of former employees, citing concerns and assurances regarding pending dues amid regulatory oversight.
Karnataka Labour Minister Santosh Lad met with representatives from Think and Learn Pvt Ltd, the parent company of Byju's, to address concerns regarding unpaid dues owed to former employees, Moneycontrol reported on Tuesday, July 2.
According to the report, Minister Lad instructed the ed-tech firm's officials during the meeting at Vikasa Soudha in Bengaluru to promptly settle 50% of the outstanding dues to ex-employees, with assurances that the remaining 50% would follow in due course.
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 case hearing is scheduled for July 4. Following this, they will provide us with an update on the action taken to clear the dues."
The minister noted that around 160 to 200 former employees had contacted the labour department, with total outstanding dues amounting to approximately ₹4.5 crore. “Few employees have approached us in person, while most have sent emails to our department,” Lad told Moneycontrol.
Mohammad Mohsin, Principal Secretary of the Labour Department, told the publication that they assured us they would settle all dues within a month of receiving a relief order from the NCLT.
The labour department has received numerous emails from former Byju employees complaining that they have not received their full and final settlements months after their termination.
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