Last year, Ajay (name changed), an employee at the beleaguered edtech giant Byju's, purchased a house in Mumbai for over 1 crore as a gift for his parents.He took a loan of about 75 lakh from a 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 chawl in Mumbai," said Ajay.
He was also forced to go from pillar to post to get the provident fund, gratuity, and the full and final compensation. He still has not been able to get that amount from the company. When I called the human resources department, they abused me," Ajay alleged.
This story is from the May 23, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the May 23, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Indian sports beyond the boundary
Little has been written about Indian sport, and practically nothing about the governance challenges as sport is powered by commerce.
![Expansion of Ayushman Bharat a priority](https://reseuro.magzter.com/100x125/articles/18959/1733126/qZPH0CxrRQMcEM55c4csys/EXPANSION-OF-AYUSHMAN-BHARAT-A-PRIORITY.jpg)
Expansion of Ayushman Bharat a priority
Expansion of Ayushman Bharat Yojana to cover everyone aged above 70 years, launch of the National Health Claims Exchange (NHCX) and a special drive against tobacco use among youngsters were among the top agenda items discussed during the first high-level meeting chaired by Union Minister of Health and Family Welfare, JP Nadda on Friday.
![MAKING A RACQUET](https://reseuro.magzter.com/100x125/articles/18959/1733126/6tXVRUKA21718404249659/MAKING-A-RACQUET.jpg)
MAKING A RACQUET
At long last, India has a player in the top 100 ATP rankings. But can Indian tennis match the success of badminton?
![Will rural consumers roar?](https://reseuro.magzter.com/100x125/articles/18959/1733126/5BxCpxpRtxIaYZCFxBGsys/WILL-RURAL-CONSUMERS-ROAR.jpg)
Will rural consumers roar?
\"Rural FMCG growth overtakes urban after 5 quarters,\" read the headline (Business Standard, May 8, 2024).
MFS or NPS? Go for both if you don't mind latter's lock-in
If one were to compare the category average returns of Tier-I equity plans of the National Pension System (NPS) with the direct plans of largecap mutual funds (MFS), the latter have a small edge currently.
![Ambuja eyes more buys after Penna deal](https://reseuro.magzter.com/100x125/articles/18959/1733126/XjDFb2IIPicCgJ2cvFDsys/AMBUJA-EYES-MORE-BUYS-AFTER-PENNA-DEAL.jpg)
Ambuja eyes more buys after Penna deal
Adani Group aims to become leader in cement sector in 4 years
Sensex, Nifty hit lifetime highs
Benchmark equity indices Sensex and Nifty hit their new closing lifetime highs on Friday, following buying in market heavyweights HDFC Bank, Reliance Industries and Mahindra & Mahindra amid encouraging export data.
Short-term margin overhang likely for Tata Communications
The management of Tata Communications presented its product-to-platform strategy and explained how it hopes to grow its new products and portfolios, and geographies.
CLSA sees further rerating scope in Vedanta
Shares of Vedanta rose as much as 2.8 per cent on Friday after the Hong Kong-based brokerage CLSA in a report said there was scope for further re-rating for the stock.
Abrdn favours Chinese, Indian stocks on policy boost hopes
Abrdn Plc prefers Chinese and Indian stocks over their Japanese peers in the next three to six months, betting that the right policy moves would help the two emerging markets lure fund inflows.