The founder of failed Indian technology firm Byju’s was sentenced to six months in jail by a Singapore court for contempt, according to people familiar with the matter.
Byju Raveendran was ordered to serve jail time after the court said he had disobeyed multiple orders related to his assets dating back to April 2024.
He has been instructed to surrender himself to officials, pay costs of S$90,000 ($70,500) and provide documents proving his legal ownership of Beeaar Investco Pte, a corporate entity that held shares in a related company.
Legal Troubles Mount for Byju Raveendran
The threat of jail time is the latest blow to a founder who is now facing claims from foreign investors around the world, including in the US where lenders are fighting to claw back losses from a $1.2 billion loan that soured.
Raveendran didn’t immediately respond to a request for comment. It’s unclear whether he is in Singapore or elsewhere.
Rise and Fall of Byju’s
Raveendran’s founding of educational technology firm Think & Learn Pvt — better known as Byju’s — turned him into a billionaire, making him one of the major success stories among a wave of Indian start-ups that have attracted capital from global firms.
However, the company later faced mounting financial and legal troubles, including layoffs, delayed payments and disputes with investors.
Investors Pursuing Action in Singapore
Raveendran is now being pursued in Singapore’s court system by a subsidiary of sovereign wealth fund Qatar Investment Authority, which participated in a funding round for the tech firm as it was cutting jobs and laying off staff.
Qatar Holdings was represented by Drew & Napier in the matter, while Byju’s Investments was represented by Fervent Chambers.