Byju’s founder faces 6-month jail term in Singapore in "procedural" court ruling

Dubai: A Singapore court sentenced Byju Raveendran, founder of BYJU'S, to six months in prison for contempt after he allegedly failed to comply with court orders linked to disclosure of his assets, according to a Bloomberg report.

The court also directed Raveendran to surrender to authorities, pay legal costs of S$90,000 ($70,500), and furnish documents related to his ownership of Beeaar Investco Pte, a corporate entity holding shares in a related company, the report said.

The proceedings were initiated by a subsidiary of Qatar Investment Authority, which had invested in the company during a period when Byju's was cutting jobs and restructuring operations, according to the report.

Responding to the development, Raveendran said reports around the Singapore proceedings had created a “misleading impression” at a time when lenders, investors and founders were nearing a settlement.

“I am disappointed that the recent Singapore court matter has been pursued and reported in a manner that creates a misleading impression about me, especially at a time when all key parties have almost concluded the settlement discussions,” he said in a statement.

Raveendran said lenders including GLAS Trust, QIA and other stakeholders had agreed “in principle” to a settlement, with only a few remaining issues pending between certain parties.

He added that parties involved in the discussions had acknowledged there had been “no wrongdoing” by him or other founders.

Raveendran said the Singapore ruling stemmed from disputes over document disclosure and was not a finding of fraud or dishonesty.

“Today’s Singapore court matter is a procedural contempt of court order, arising only from disputes over document disclosure in ongoing proceedings — not a finding of fraud, dishonesty, or any wrongdoing on the merits,” he said.

He said he had been directed to appear before the court on June 15 and that appeal options remained available.

Raveendran also said he had avoided contesting several legal proceedings in recent months because parties were working towards a broader settlement.

“Against this backdrop, the decision by QIA to continue pressing this matter appears to be an unnecessary pressure tactic at a sensitive stage of the settlement process,” he said.

The Singapore ruling adds to mounting legal and financial pressure on the embattled edtech company and its founder, who are facing scrutiny across multiple jurisdictions, including the United States.

Creditors linked to a disputed $1.2 billion term loan have been pursuing recovery actions against the company and related entities.

Bloomberg reported that Qatar Holdings was represented by law firm Drew & Napier, while Byju’s Investments was represented by Fervent Chambers.

The development follows a Delaware court decision in December 2025 reversing an earlier $1 billion judgment against Raveendran after reviewing fresh submissions related to the case. The court said damages had not been properly determined and ordered fresh proceedings to assess whether damages were owed.