Byju’s founder Byju Raveendran has been sentenced to six months in jail by a Singapore court for contempt after allegedly disobeying multiple court orders related to his assets, according to a Bloomberg report, adding to the mounting legal troubles surrounding the embattled edtech entrepreneur.
The Bloomberg report said the Singapore court found Raveendran guilty of failing to comply with orders dating back to April 2024. The ruling marks the first instance in which a judge has threatened imprisonment for the founder of the once high-flying Indian startup.
According to the Bloomberg report, Raveendran has been directed to surrender to officials, pay legal costs of S$90,000 ($70,500) and furnish documents proving his legal ownership of Beeaar Investco Pte, a corporate entity that held shares in a related company.
The latest legal setback comes as Raveendran faces claims from investors and lenders across jurisdictions, including in the United States, where creditors are attempting to recover losses linked to a soured $1.2 billion loan.
Raveendran did not immediately respond to requests for comment, the report said. It remains unclear whether he is currently in Singapore or elsewhere.
“We are presently contemplating an appeal against the decision of the Honourable Court and to apply for stay of the order for committal,” Clarence Lun, a lawyer for Byju’s, said in a statement, as quoted by Bloomberg.
Raveendran founded Think & Learn Pvt Ltd, the parent company of Byju’s, which emerged as one of India’s most prominent edtech startups and attracted billions of dollars from global investors during the startup boom.
However, the company’s fortunes declined sharply after the post-pandemic slowdown, leading to layoffs, investor disputes and legal battles.
The Singapore case was brought by a subsidiary of sovereign wealth fund Qatar Investment Authority, which had invested in Byju’s during a funding round when the company was already cutting jobs and restructuring operations.
Qatar Holdings was represented by Drew & Napier in the matter, while Byju’s Investments was represented by Fervent Chambers.