Byju’s founder sentenced to six months for contempt by Singapore court

Byju Raveendran, founder of the Indian educational technology firm Think & Learn Pvt Ltd (Byju’s), was sentenced to six months in jail by a Singapore court for contempt of court. The ruling stems from his refusal to comply with multiple asset-related orders issued since April 2024, including failing to provide proof of ownership for Beeaar Investco Pte, a corporate entity linked to Byju’s. The court also ordered Raveendran to pay S$90,000 ($70,500) in costs and surrender himself to authorities. His legal troubles follow a wave of investor claims, including a $1.2 billion loan dispute in the US, where lenders seek to recover losses from Byju’s collapsed valuation. Raveendran’s case is being pursued by a subsidiary of Qatar Investment Authority, which participated in Byju’s funding rounds amid layoffs and staff reductions. Qatar Holdings was represented by Drew & Napier, while Byju’s Investments was defended by Fervent Chambers. Once a billionaire and a prominent figure in India’s startup boom, Raveendran’s legal battles mark a dramatic fall for the company he built. Byju’s, once valued at over $22 billion, has faced financial turmoil, including a failed IPO and mass layoffs. The Singapore court’s decision adds to the pressure on Raveendran, who did not immediately respond to requests for comment. It remains unclear whether he is currently in Singapore or abroad.