The legal troubles surrounding Byju’s founder Byju Raveendran have deepened after a Singapore court sentenced him to six months in jail for contempt of court. The order comes amid ongoing disputes linked to the financial collapse and restructuring of one of India’s most high-profile edtech companies.
Raveendran, however, has strongly denied any wrongdoing and said the case does not relate to fraud or dishonesty.
According to reports, the Singapore court found that Raveendran repeatedly failed to comply with several court orders connected to his assets. These directions date back to April 2024 and relate to disclosure of documents and ownership details.
The court has also ordered him to surrender to authorities, pay costs of around S$90,000 (nearly $70,500), and submit documents proving ownership of Beeaar Investco Pte, a company linked to shares in a related entity.
Responding to the developments, Raveendran said the matter has been misunderstood and is part of ongoing settlement talks with lenders and stakeholders.
He said, “For months, the lenders (including GLAS Trust and QIA), other stakeholders and us (the founders) have been in advanced settlement discussions. A settlement has been agreed in principle, with only minor residual issues left between certain parties – none involving me.”
He added that all parties had been trying to reach a broader resolution and had agreed to pause aggressive legal action.
“All parties – the lenders and the founders – had in principle agreed not to actively pursue cases against each other, and have effectively been at a standstill for the last three months while working towards a comprehensive resolution. I chose resolution over confrontation.”
Raveendran also stressed that the court’s decision does not relate to any finding of fraud or wrongdoing on merit.
“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 further said he remains open to legal options and will continue to engage with the process.
Once seen as one of India’s biggest startup success stories, Byju’s has faced intense financial stress and legal disputes in recent years. The latest court ruling adds another layer of uncertainty to the company’s ongoing restructuring efforts.
Despite the setback, Raveendran says he remains focused on finding a resolution.
“I have always acted in good faith – for BYJU’S, its employees, its students, and everyone who built this with us. After and giving everything back, I remain committed to seeing this through to a constructive resolution.”
Source: India Today
