Byju Raveendran founder of embattled edtech company Byju’s, has been sentenced to six months in jail by a Singapore court in a contempt of court case linked to asset disclosure proceedings.
According to reports citing Bloomberg, the court found that Raveendran repeatedly failed to comply with multiple court orders related to his assets dating back to April 2024.
The Singapore court also directed Raveendran to surrender to authorities, pay legal costs of S$90,000, equivalent to around US$70,500, and submit documents proving his legal ownership of Beeaar Investco Pte, a Singapore-based corporate entity linked to the case.
The ruling marks the latest setback for the once high-profile entrepreneur, whose company has been battling mounting legal and financial troubles across several jurisdictions, including the United States and India.
Court proceedings are tied to disputes involving lenders and investors seeking recovery linked to a US$1.2 billion term loan raised by Byju’s international arm.
According to reports, the case was connected to allegations surrounding the transfer and disclosure of pledged shares linked to Aakash Educational Services.
Raveendran later responded to the ruling, saying settlement discussions with lenders, including GLAS Trust and the Qatar Investment Authority, were nearing completion. He described the continuation of the contempt proceedings as an “unnecessary pressure tactic” during ongoing negotiations.
The court order adds to growing scrutiny surrounding Byju’s collapse, once considered one of India’s most valuable startups during the peak of the global edtech boom.
