Byju's unable to pay salaries as funds locked: Founder Raveendran
Byju Raveendran, CEO of Byju’s, criticized investors for hindering salary disbursement due to the lock on funds raised through the rights issue. Investors alleged fund siphoning and approached NCLT, seeking a stay. Byju’s faces a cash crisis and a fight with majority investors over restructuring and ousting the CEO from the family-run board.
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