Singapore court sentences Byju Raveendran to six months jail for contempt of court: Report

NEW DELHI, MAY 27 : Byju Raveendran, founder of embattled edtech company Byju’s, has been sentenced to six months in jail by a Singapore court in a contempt of court case, Bloomberg reported on Wednesday.

According to a report by Bloomberg, the court held that Raveendran had repeatedly failed to comply with multiple orders related to disclosure and handling of his assets, some of which date back to April 2024.

The court also directed him to surrender to authorities and pay legal costs of around USD 70,500 (about Rs 67 lakh). In addition, he has been ordered to provide documents proving his legal ownership of Beeaar Investco Pte, a corporate entity linked to the case, Bloomberg reported.

The contempt ruling adds to the growing legal troubles surrounding the founder of Byju’s, which has been facing multiple disputes and creditor actions across jurisdictions, including the United States.

Bloomberg noted that the case is part of broader proceedings involving lenders and investors seeking recovery of funds linked to a USD1.2 billion term loan raised by the company’s international arm.

Raveendran has not publicly commented on the sentencing, and it is not immediately clear whether he is currently in Singapore, Bloomberg reported.

-PTI