Byju Raveendran, the founder of embattled edtech firm Byju’s, has been sentenced to six months in prison by a Singapore court after being found guilty of contempt for allegedly failing to follow multiple court directives connected to his financial disclosures and assets, according to a Bloomberg report.
People familiar with the matter said the court ordered Raveendran to surrender before authorities, pay legal expenses amounting to S$90,000, and submit documentation establishing his ownership of Beeaar Investco Pte, a corporate entity linked to shares in another associated company.
The ruling marks the latest legal setback for the once high-flying startup founder, who is simultaneously embroiled in a bitter dispute with lenders in the United States over a troubled $1.2 billion loan. Courts in the US had previously held him in contempt as well, imposing daily penalties over alleged failure to comply with disclosure requirements tied to the case.
Raveendran says settlement discussions are underway
Speaking to HT after the ruling, Byju Raveendran claimed negotiations with lenders and investors were nearing completion and accused certain parties of presenting a distorted narrative around the case.
In a statement issued following the court order, he said an agreement in principle had already been reached, with only a handful of issues remaining unresolved.
“I am disappointed that the recent Singapore court matter has been pursued and reported in a manner that creates a misleading impression about me,” he said, adding that stakeholders involved in the negotiations had acknowledged there was “no wrongdoing” on his or the other founders’ part.
Raveendran further stated that he had intentionally avoided aggressively contesting some proceedings in recent months because efforts were underway to reach a broader resolution.
“I chose resolution over confrontation,” he added.
The rise of Byju’s from a startup success story to a global giant
Byju Raveendran launched Think & Learn Pvt Ltd in 2011 alongside his wife, Divya Gokulnath, after gaining popularity as a mathematics coach for competitive examinations.
The company’s flagship product, branded as Byju’s, rapidly emerged as one of India’s biggest startup success stories. Demand for online education exploded during the Covid 19 pandemic, helping the Bengaluru-based company scale rapidly across global markets.
At its peak in 2022, Byju’s was valued at nearly $22 billion and became the world’s most valuable edtech startup. Backed by major global investors, the company aggressively expanded through acquisitions, buying firms such as Aakash Educational Services, WhiteHat Jr, Great Learning, and Epic.
Raveendran himself became one of India’s most recognizable startup founders during the company’s meteoric rise.
Financial troubles and mounting legal pressure
The rapid expansion was eventually followed by a steep decline. By 2023, concerns around governance, delayed financial reporting, growing losses and aggressive spending had started surfacing publicly.
The company laid off thousands of employees amid a severe funding crunch, while disputes with investors and lenders intensified.
In April 2023, the Enforcement Directorate carried out searches linked to Byju’s and Raveendran over alleged violations of foreign exchange laws. Officials said “incriminating documents and data” were seized during the operation.
The crisis deepened further after Byju’s defaulted on repayments tied to the $1.2 billion US term loan. Lenders accused the company and its founders of hiding funds and failing to comply with court ordered disclosures.
In 2025, a US bankruptcy court imposed civil contempt sanctions against Raveendran over continued non compliance in the ongoing legal battle.
The company also witnessed shareholder disputes, board level exits and insolvency proceedings in India. Its valuation collapsed dramatically from earlier highs, with Raveendran later admitting publicly that the company’s value had effectively dropped to zero.
Singapore proceedings tied to Qatar investor
The Singapore case was reportedly initiated by a subsidiary of Qatar Investment Authority, which had invested in Byju’s during one of its later funding rounds while the company was already restructuring and reducing staff.
Qatar Holdings was represented by law firm Drew & Napier, while Byju’s Investments was represented by Fervent Chambers.
