Byju Raveendran, founder of the edtech firm Byju's, has been sentenced to six months in jail by a Singapore court for contempt.
The court also directed Raveendran to pay around ₹67.45 lakh. The ruling stated that he had disobeyed multiple court orders related to his assets dating back to April 2024.
Raveendran has been instructed to surrender to authorities and provide documents proving his legal ownership of Beeaar Investco Pte, a corporate entity that held shares in a related company.
The latest development marks another major setback for the once high-flying edtech entrepreneur, who is facing legal claims from foreign investors and lenders across several jurisdictions.
Lenders in the US are attempting to recover losses linked to a troubled $1.2 billion term loan, triggering a series of legal disputes.
Once valued at around $22 billion, Byju’s has witnessed a dramatic fall amid mounting financial stress, delayed financial filings, investor exits and governance concerns.
Global investors and creditors have initiated recovery proceedings over the company’s debt obligations, while scrutiny has intensified over alleged fund diversion, governance lapses and missed payment obligations.
The Singapore proceedings have reportedly been initiated by a subsidiary of the Qatar Investment Authority, which had invested in Byju’s during a funding round conducted when the company was cutting jobs and reducing staff.
