A Singapore court on May 27 sentenced Byju’s founder Byju Raveendran to six months in jail for contempt after finding he had violated multiple orders related to his assets dating back to April 2024.

The court also ordered Raveendran to surrender to officials, pay S$90,000 (US$70,000) in costs, and provide documents proving his legal ownership of Beeaar Investco Pte, a Singapore entity that holds about 16% of Aakash Educational Services.

The contempt case was brought by Qatar Holding, a subsidiary of sovereign wealth fund Qatar Investment Authority. It alleged that Aakash shares pledged against its 2022 US$150 million loan to Byju’s Investments Pte Ltd were moved to Beeaar in breach of the financing terms.

That dispute led to arbitration and a worldwide freeze on up to US$235 million in assets.

Raveendran’s lawyer said he was considering an appeal and seeking a stay of the committal order.

The ruling adds to pressure from US lenders over Byju’s troubled US$1.2 billion term loan.

Think & Learn Pvt Ltd, the India-based educational technology company behind Byju’s, remains in Indian insolvency proceedings under a resolution professional.

🔗 Source: Bloomberg

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