Delhi to Delaware: No end in sight for edtech giant Byju's problems

Ex-employees planning to take firm to NCLT next week to demand their dues

Last year, Ajay (name changed) an employee at the beleaguered edtech giant Byju’s, purchased a house in Mumbai for over Rs 1 crore as a gift for his parents. He took a loan of about Rs 75 lakh from the bank on EMI (equated monthly installment). However, a few months after the deal, Byju’s handed him the pink slip. He had to sell off his property at a lower price last year and relocate to his previous accommodation at a chawl.

“It was a middle-class boy’s dream to gift a home to his parents and get them out of the