In response to growing concerns about the company's insolvency, Byju Raveendran, the Founder of the cash-strapped edtech company BYJU'S, informed employees in an email that their July salaries would be paid once he regains control of the business. In recent months, the struggling business has repeatedly delayed paying employees their wages. The business claims to have paid all of its employees their salaries for April and May, but it has not yet settled all of its payments for February and March. After the NCLAT approved a 158 million settlement between the edtech company and the BCCI on August 2, BYJU's avoided a potential "death." 

However, on August 14, the Supreme Court of India issued an interim order that stayed the appellate tribunal's decision. The insolvency proceedings against BYJU'S have been effectively revived by the Supreme Court's decision, overturning the NCLAT's earlier ruling that had set them aside. Following an appeal by Glas Trust Company LLC, based in the United States and representing some of BYJU's creditors, challenging the NCLAT's approval of the settlement, the top court issued its order. Byju Raveendran's brother Riju Ravindran, a significant shareholder in the edtech company, paid the BCCI the dues. Boss Equity DY Chandrachud, who headed the three-judge seat, coordinated that the sum paid by BYJU'S to the BCCI be held in a different escrow account awaiting additional analysis. 

In the meantime, BYJU's request to prevent the interim resolution professional (IRP) from forming a committee of creditors (CoC) until the supreme court makes a decision on the case was rejected by the Supreme Court on Tuesday. However, the top court consented to hearing the case on August 22. 

The IRP's responsibilities include forming a CoC, compiling a list of creditors, and managing the company's affairs, operations, and assets. An advocate for the IRP stated on August 1 that they had received claims from 3,000 employees and a Form C from the lenders for $1.3 billion in dues. Employees at BYJU'S are keeping a close eye on the developments in the midst of the ongoing chaos, hoping that the edtech company's uncertain situation won't harm their careers further.