Raveendran, the founder of failed education technology firm Byju's was sentenced to six months in jail by a Singapore court for contempt, according to a report by Bloomberg. Byju Raveendran was ordered to serve jail time after the court said he had disobeyed multiple orders related to his assets dating back to April 2024.
He has been instructed to surrender himself to officials, pay costs of S$90,000 ($70,500) and provide documents proving his legal ownership of Beeaar Investco Pte, a corporate entity that held shares in a related company.
The threat of jail time is the latest blow to a founder who is now facing claims from foreign investors around the world, including in the US where lenders are fighting to claw back losses from a $1.2 billion loan that soured, as per the report.
He is now being pursued in Singapore's court system by a subsidiary of sovereign wealth fund Qatar Investment Authority, which participated in a funding round for the tech firm as it was cutting jobs and laying off staff. Qatar Holdings was represented by Drew & Napier in the matter. Byju's Investments was represented by Fervent Chambers.
Raveendran's founding of educational technology firm Think & Learn Pvt — better known as Byju's — turned him into a billionaire, making him one of the major success stories among a wave of Indian start-ups that have attracted capital from global firms.
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