Byju Raveendran sentenced to six months in Singapore jail over contempt of court – Firstpost

Byju Raveendran, founder of embattled edtech firm Byju’s, has been sentenced to six months in prison by a Singapore court in a contempt of court case linked to alleged non-compliance with judicial orders related to his assets.

According to a Bloomberg report, the Singapore court held that Raveendran repeatedly failed to comply with multiple court directives issued since April 2024. The orders were reportedly connected to disclosure requirements involving his financial assets and ownership-related documents.

The court directed Raveendran to surrender before authorities and also asked him to pay legal costs of nearly $70,500.

The case is linked to documents associated with Beeaar Investco Pte, an entity that reportedly held shares in a related company. The court said Raveendran failed to adequately comply with directions seeking records and details connected to the entity.

The ruling marks another major setback for the once high-flying edtech entrepreneur, whose company has been battling mounting financial stress, governance concerns and legal disputes across several jurisdictions. Byju’s, once valued at around $22 billion, has seen its fortunes collapse amid cash flow issues, delayed financial filings, investor exits and creditor battles.

Global lenders and investors have also initiated recovery proceedings linked to the company’s troubled $1.2 billion term loan, which triggered a series of legal battles in the United States and other markets. The company has faced scrutiny over alleged fund diversion, corporate governance lapses and missed payment obligations.

Bloomberg reported that Raveendran did not immediately respond to requests for comment, while his current whereabouts were not immediately clear.