Byju’s founder gets six-month jail term in Singapore, ordered to pay $70,500

Byju’s founder Byju Raveendran has been sentenced to six months in jail by a Singapore court for contempt after allegedly failing to comply with multiple court orders related to his assets. The court directed him to surrender before authorities, pay legal costs of S$90,000, equivalent to about $70,500, and submit documents proving ownership of Beeaar Investco Pte, a corporate entity that held shares in a related company.

According to information presented before the court, the contempt proceedings were linked to alleged non-compliance with orders issued from April 2024 onward concerning disclosure and ownership-related matters. The latest ruling added to ongoing legal disputes involving Raveendran across multiple jurisdictions, including proceedings connected to lenders in the United States over a defaulted $1.2 billion loan.

Raveendran later stated that settlement discussions with lenders and investors were nearing completion and claimed that a settlement had already been agreed to in principle, with only a few unresolved issues remaining. He also said he had chosen not to actively contest several proceedings in recent months because stakeholders were working toward a broader resolution process.

Byju Raveendran founded Think & Learn Pvt Ltd in 2011 along with Divya Gokulnath. The company’s learning platform later emerged as one of India’s largest edtech firms during the rapid growth of online education. At its peak in 2022, the company was valued at nearly $22 billion and acquired firms including Aakash Educational Services, WhiteHat Jr, Great Learning and Epic.

The Singapore proceedings were initiated by a subsidiary linked to the Qatar Investment Authority, which had invested in the company during a later funding round. The company has also faced disputes involving delayed financial disclosures, loan repayment defaults, shareholder disagreements, insolvency proceedings and investigations related to alleged foreign exchange violations. Authorities and lenders in multiple countries continue to examine financial and corporate matters connected to the company and its founders.