Byju Raveendran Sentenced to Six Months in Singapore Court for Contempt

Byju Raveendran, founder of embattled edtech firm Byju’s, has been sentenced to six months in prison by a Singapore court for contempt of court, according to a Bloomberg report. The court found him guilty of repeatedly failing to comply with orders requiring disclosure of his assets since April 2024. He has also been directed to surrender to authorities and pay legal costs amounting to USD 70,500.

As part of the ruling, the court asked Raveendran to submit documents establishing his ownership in Beeaar Investco Pte, an entity that held shares in a related company. The case was reportedly pursued by a subsidiary of the Qatar Investment Authority, which had invested in Byju’s during one of its later funding rounds when the company was facing layoffs and aggressive cost-cutting.

The development adds to a growing list of legal challenges faced by Raveendran, who is already dealing with disputes involving lenders and investors across multiple jurisdictions.

In a statement shared with Entrackr, Raveendran said the ruling presents a misleading picture, noting that settlement discussions with lenders are nearing completion. He denied any wrongdoing and maintained that the funds in question were used for legitimate business purposes.

Byju’s, once valued at USD 22 billion in 2022, has seen a steep decline amid financial stress, layoffs, and governance concerns. Raveendran had earlier acknowledged that the company’s valuation had effectively dropped to zero during insolvency proceedings.

In the United States, creditors are pursuing recovery linked to a disputed USD 1.2 billion term loan, while a US bankruptcy court had previously held him in civil contempt over non-disclosure of financial information.