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Byju's Clears March Salary Of Employees After CEO Takes Personal Debt: Report https://t.co/xTNZ3jUtSH https://t.co/5idzzQVuoo
Bjyu's Clears March Salary Of Employees After CEO Takes Personal Debt: Report https://t.co/xTNZ3jUtSH https://t.co/zx2dwcRa1y
.@BYJUS founder #ByjuRaveendran has partially paid the salaries of 13,000 employees for March, sources told CNBC-TV18. #Raveendran reportedly raised around ₹30 crore in personal debt to meet salary obligations. @Shruti_Malhotra @CNBCYoungTurks https://t.co/BJA4h1gRtT
Byju Raveendran, the CEO of Byju's, has taken on personal debt to ensure the payment of March salaries for the company's 13,000 employees. This move was necessary as the funds from a recent rights issue are currently held in an escrow account following orders from the National Company Law Tribunal (NCLT). Despite these challenges, Byju's managed to partially clear the salary dues, with the expenses for these partial payouts amounting to approximately Rs 25-30 crore. The company's monthly expenditure is estimated to be around Rs 45-50 crore.
