There seems to be no end to the crises that have gripped Byju’s. In addition to the ongoing financial crisis and the salary woes of its employees, Rajnish Kumar and T V Mohandas Pai, who have been part of Byju’s advisory council for a year now, have decide to leave for good. The two were to renew their contract with the firm at the end of next month, that is, June 2024. They were employed on a fixed-term basis, with their contracts to be renewed every year. The duo, have, however, chosen against renewal.
Kumar and Pai have not broken ties with the firm completely,however, for they maintain that they are available for advice whenever the company wishes to approach them.
Byju Raveendran, CEO, Byju’s has relied heavily on Pai and Kumar for advice in the past one year, and he hopes to continue to do so in the future too in the firm’s rebuilding process.
Pai was formerly associated with Infosys, as chief financial officer and member of the board. Kumar was associated with the State Bank of India as chairperson.
With the National Company Law Tribunal fixing the next hearing of the Byju’s case on 6 June, the employees continue to be uncertain of their future. In April, the teachers and employees at the lower grades finally received 100 per cent salary for March. The others were paid at least 50 per cent of their March salary.
