Newsinc24 Team
Entrepreneur and co-founder of embattled edtech firm Byju’s, Byju Raveendran, has been sentenced to six months in jail by a Singapore court for contempt..According to agency reports,the court said Raveendran had failed to comply with multiple court orders related to his assets dating back to April 2024, following which he was directed to serve a jail term.He has also been instructed to surrender before authorities, pay legal costs of S$90,000 (around Rs 67.5 lakh), and submit documents proving his legal ownership of Beeaar Investco Pte, a corporate entity holding shares in a related company.
The latest development adds to the mounting legal troubles faced by Raveendran, who is already battling claims from foreign investors and lenders across multiple jurisdictions. In the United States, lenders have been attempting to recover losses linked to a $1.2 billion term loan associated with the company.Raveendran founded Think & Learn Pvt Ltd, the parent company of Byju's, which emerged as one of India’s most prominent start-up success stories during the peak of investor funding in the technology sector.However, the company has faced severe financial stress in recent years, leading to layoffs, governance concerns, and legal disputes with investors and creditors.
The proceedings in Singapore were initiated by a subsidiary of Qatar Investment Authority, which had participated in a funding round for the edtech company during a period of restructuring and workforce reductions.According to reports, Qatar Holdings was represented by Drew & Napier in the matter, while Byju’s Investments was represented by Fervent Chambers.
