Raveendran says the order relates to a disclosure dispute and not fraud, as settlement discussions approach conclusion.
Dubai: A Singapore court has sentenced BYJU’S founder Byju Raveendran to six months in prison for contempt of court after he allegedly failed to comply with orders related to the disclosure of his assets, according to a Bloomberg report.
The court also ordered Raveendran to surrender to authorities, pay legal costs of S$90,000 (about $70,500), and submit documents related to his ownership of Beeaar Investco Pte, a corporate entity holding shares in an associated company, according to the report.
The case was initiated by a subsidiary of the Qatar Investment Authority, which had invested in the company during a period when BYJU’S was undergoing job cuts and restructuring, the report added.
Responding to the development, Raveendran said the reports surrounding the Singapore proceedings had created a “misleading impression” at a time when lenders, investors and founders were close to finalising 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 that lenders including GLAS Trust, Qatar Investment Authority and other stakeholders had agreed “in principle” to a settlement, with only a few outstanding issues still pending between certain parties.
He added that those involved in the discussions had acknowledged that there had been “no wrongdoing” by him or the company’s founders.
“Procedural” order
Raveendran said the Singapore ruling arose from a dispute over document disclosure and should be seen as a procedural matter, not a finding of fraud or dishonesty.
“Today’s Singapore court matter is a procedural contempt order arising solely from disputes over document disclosure in ongoing proceedings — not a finding of fraud, dishonesty or any wrongdoing on the merits,” he said.
He added that he has been directed to appear before the court on June 15, and that appeal options remain available.
Raveendran also said he had chosen not to contest several legal proceedings in recent months as parties were working towards a broader settlement.
“Against this backdrop, the decision by Qatar Investment Authority to continue pressing this matter appears to be an unnecessary pressure tactic at a sensitive stage of the settlement process,” he said.
Latest legal setback
The Singapore ruling adds to growing 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 Investment Authority 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 that reversed an earlier $1 billion judgment against Raveendran after reviewing fresh submissions in the case. The court said damages had not been properly determined and ordered fresh proceedings to reassess whether any damages were owed.
