Karnataka Labour Minister Santosh Lad has called on Byju’s, the edtech company, to promptly address outstanding dues owed to former employees. According to media reports, approximately 160 to 200 ex-employees have approached the Labour Department with unpaid dues totaling around Rs 4.5 crore.
In a meeting held at Vikasa Soudha in Bengaluru, Lad instructed the company to pay at least 50 per cent of the outstanding dues immediately, with the remaining amount to be settled subsequently. This directive aims to provide immediate relief to the affected employees.
Byju’s representatives explained that their funds are currently held in an escrow account with the National Company Law Tribunal (NCLT), with a hearing scheduled for 4 July, 2024. They promised to update the Labour Department following the hearing.
The Labour Department has received numerous complaints from former Byju’s employees regarding unpaid settlements. However, the Department has confirmed that the company has assured the settlement of all dues within a month of receiving a relief order from the NCLT.
This situation highlights ongoing concerns about employee welfare and corporate responsibility within the rapidly-growing edtech sector. The Labour Department remains vigilant in ensuring that all employees receive their due compensation in a timely manner.