A Singapore court on Wednesday sentenced Byju Raveendran, founder of the embattled Indian ed-tech firm Byju’s, to six months in jail for contempt of court. The decision stems from his alleged failure to comply with multiple asset-disclosure orders dating back to April 2024. Initiated by a subsidiary of the Qatar Investment Authority (QIA), the court directed Raveendran to surrender to authorities, pay SGD 90,000 (USD 70,500) in legal costs, and verify his ownership of Beeaar Investco Pte.
Responding to the ruling, Raveendran clarified on X that the matter is a “procedural contempt of court order, arising only from disputes over document disclosure in ongoing proceedings – not a finding of fraud, dishonesty, or any wrongdoing on the merits.” He expressed disappointment over the reporting, noting that lenders and founders are in advanced, in-principle settlement talks acknowledging no wrongdoing on his part.
This direct personal-liability ruling marks another blow to Byju’s, once India’s most valuable startup. It follows a US bankruptcy court’s reversal of a separate $1 billion default judgment against him pending a fresh damages phase. Raveendran’s legal counsel is preparing an appeal and a stay application, with the founder directed to appear on June 15.
