Back
Anonymous
Hey I am on Medial • 1y
As the labour department received many emails from former Byju's employees regarding full and final settlements, Karnataka Labour Minister Santosh Lad met representatives of the troubled edtech firm and urged them to settle outstanding dues owed to former employees. "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. Lad said that the company's representatives informed him that their funds are in an escrow account with the National Company Law Tribunal (NCLT), and a hearing of the case is scheduled for July 4. Following this, they will provide us with an update on the action taken to clear the dues, Lad told the publication. He said said around 160 to 200 employees had approached the labour department, with total outstanding dues amounting to around Rs 4.5 crore.
Replies (1)
More like this
Recommendations from Medial
gray man
I'm just a normal gu... • 4m
Over 2,000 artists at Technicolor India have been left jobless as the company abruptly halts operations, offering no clarity on pending salaries or severance. Technicolor Group, one of the world's largest animation and VFX firms, has played a crucia
See More
gray man
I'm just a normal gu... • 3m
Vodafone Idea has announced that the Indian government will convert its outstanding spectrum auction dues into equity shares valued at ₹36,950 crore. As a result of this conversion, the government's stake in the telecom company will rise significan
See More
Mohammed Zaid
Building-HatchUp.ai • 8m
Around 70 former and current Swiggy employees stand to make over ₹8.5 crore each ($1 million) with Swiggy's IPO, making them dollar millionaires, Moneycontrol reported. These 70 people are part of a wider group of 5,000 employees jointly earning ₹9,0
See More
Download the medial app to read full posts, comements and news.