NCLT warns Byju's to pay salaries to workers or face an audit
Bengaluru: The National Company Law Tribunal (NCLT) has directed Byju's to pay its employees' salaries, whether or not the company has access to funds raised through its rights issue, media reported.
The NCLT also warned that an audit would be conducted if the employees were not compensated.
"You are a company that is functioning. Surely you should be having revenues," the Bengaluru bench of NCLT said on Thursday while hearing a plea by employees seeking payment of salaries, reported Moneycontrol.
The tribunal warned that the Institute of Chartered Accountants of India (ICAI) would conduct an audit if Byju's failed to pay its staff.
It directed Byju's to file a response to the employees’ application and scheduled the plea for a hearing in the coming week.
Although Byju's has paid salaries for April and May, it has not fully paid the salaries for February and March.
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