The Karnataka High Court has stepped in with an interim order that stops Byju’s founder Byju Raveendran from selling or transferring his Indian assets. The move came after Qatar Investment Authority (QIA) sought to enforce a $235-million arbitration award against him.
Justice R Nataraj issued the freeze during the very first hearing on QIA’s petition. The plea asks the court to recognise and enforce a July 2025 award from the Singapore International Arbitration Centre (SIAC) as if it were an Indian court decree.
The judge noted that since QIA wanted protection against any possible transfer of assets, it was “appropriate” to restrain Raveendran and Byju’s from alienating or encumbering the listed properties until the next date of hearing.
Raveendran’s counsel Rishabh Gupta argued that the petition had not yet been served and requested more time to file objections. He opposed the interim freeze for the same reason. But the court observed that there was already a prior undertaking on not transferring assets and refused to take chances this time.
The claim goes back to a September 2022 financing deal. QIA’s subsidiary, Qatar Holding LLC, had lent $150 million to Raveendran’s Singapore investment vehicle. The loan was backed by his personal guarantee and shares of Aakash Educational Services Ltd, the company Byju’s acquired to strengthen its test-prep business.
Things soured when Raveendran allegedly transferred pledged shares to another entity he controlled, a move QIA treated as a breach. After defaults, QIA terminated the deal in February 2024 and rushed to arbitration in Singapore.
SIAC’s award in July 2025 ordered Raveendran to pay $235 million plus 4% annual interest, pushing the dues above $249 million. Now QIA wants the high court to attach and sell his Indian assets to recover the money.
The proceedings underline the dramatic collapse of Byju’s, once flaunted as India’s most valuable startup at $22 billion. From global acquisitions to high-profile investors, the company’s fortunes have been unravelling fast.
