Byju Raveendran responds after Singapore court sentence – Firstpost

Byju’s founder Byju Raveendran has broken his silence after a Singapore court sentenced him to six months in prison in a contempt of court case, asserting that there was “no wrongdoing” on his part or by the other founders of the embattled edtech company.

In a detailed statement posted on X, Raveendran said the matter before the Singapore court was procedural in nature and stemmed from disputes over document disclosure in an ongoing legal proceeding, not from allegations of fraud or dishonesty.

“There is no wrongdoing on my part or by the other founders,” Raveendran said, adding that lenders, founders and other stakeholders had been engaged in advanced settlement discussions for months.

According to him, a settlement had already been agreed “in principle,” with only a few residual issues remaining between certain parties. He also claimed that all sides had effectively paused aggressive legal action over the last three months while working towards a broader resolution.

“All parties — the lenders and the founders — had in principle agreed not to actively pursue cases against each other,” he wrote. “I chose resolution over confrontation.”

Raveendran also questioned the timing of the legal escalation, alleging that QIA’s decision to continue pressing the matter appeared to be a pressure tactic during a sensitive phase of negotiations.

Calling the Singapore ruling a “procedural contempt of court order,” the Byju’s founder stressed that it was “not a finding of fraud, dishonesty, or any wrongdoing on the merits.”

He further said he had been directed to appear before the court on June 15 and noted that legal appeal options remained available.

The Singapore court had earlier sentenced Raveendran to six months in prison after reportedly finding repeated violations of court orders linked to disclosure of assets and documents associated with Beeaar Investco Pte. The court also directed him to surrender before authorities and imposed legal costs of S$90,000, or around $70,500.

The latest development adds to the mounting legal and financial troubles surrounding Byju’s, once India’s most valuable startup. The edtech company has been facing creditor disputes, investor pressure, delayed financial filings and multiple legal battles linked to its troubled $1.2 billion term loan.

Ending his statement on an emotional note, Raveendran said he remained committed to resolving the crisis around the company.

“I have always acted in good faith — for BYJU’S, its employees, its students, and everyone who built this with us,” he wrote. “The truth doesn’t change with a headline.”