Byju Raveendran, founder of embattled edtech giant Byju’s, has been sentenced by a Singapore court to six months in jail for contempt after he allegedly failed to comply with several court orders related to his assets, Bloomberg reported.
A Singapore court ordered Raveendran to surrender to authorities, pay legal costs of S$90,000 (about $70,500) and provide documents proving his ownership of Beaar Investco Pte, a corporate entity that holds shares in a related company, according to people familiar with the matter.
The latest judgment adds to the growing list of legal troubles facing the once-famous entrepreneur, who is also battling lenders in the United States over a $1.2 billion loan. US courts had earlier held Raveendran in contempt and imposed daily sanctions for non-compliance with disclosure orders related to the controversy.
However, Raveendran told HT that settlement discussions with lenders and investors were near completion and accused the parties of creating a “misleading impression” about them. In a statement released after the decision, he said a deal had been “agreed in principle”, with only a few issues remaining unresolved.
“I am disappointed that the recent Singapore court case has been handled and reported in a manner that creates a misleading impression about me,” Raveendran said. He said the parties involved in the negotiations have acknowledged “no wrongdoing” on the part of him or the other founders.
He further claimed that he had not actively opposed many of the proceedings in recent months because stakeholders were working towards a comprehensive solution. “I chose resolution rather than confrontation,” he said.
From classroom coach to edtech billionaire
After earning a reputation as a popular mathematics coach for competitive exams, Raveendran founded Think and Learn Pvt Ltd in 2011 with his wife Divya Gokulnath. The company’s flagship learning app, known as Byju’s, quickly became one of India’s biggest startup success stories.
The company saw explosive growth during the COVID-19 pandemic as online learning increased globally. At its peak in 2022, Byju’s was valued at around $22 billion, making it the world’s most valuable edtech startup. Backed by global investors, the Bengaluru-based company went on an acquisition spree, buying companies like Aakash Educational Services, WhiteHat Jr, Great Learning and Epic.
Raveendran himself became one of India’s most famous startup founders and billionaires as Byju’s attracted billions of dollars in foreign funding.
Increasing debt, investors’ exit and legal battle
The company’s rapid growth was followed by an equally dramatic decline. Concerns over governance practices, delayed financial disclosures, rising deficit and aggressive expansion began to surface in 2023. The company laid off thousands of employees amid a severe funding crisis and disputes with lenders.
In April 2023, the Enforcement Directorate searched premises linked to Byju’s and Raveendran over alleged violations of foreign exchange laws. The agency said it had seized “incriminating documents and data” during the searches.
The problems further increased after Byju’s default in repayments related to a $1.2 billion term loan in the US. 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 on Raveendran for failing to comply with court orders in the ongoing dispute.
The company also faced a shareholder revolt, board resignations and bankruptcy proceedings in India. Byju’s valuation fell sharply from its peak, with Raveendran himself later admitting that the company’s value had effectively dropped to zero.
The Singapore case is related to a subsidiary of Qatar Fund.
The Singapore proceedings were initiated by a subsidiary of Qatar Investment Authority, which had invested in Byju’s during one of the company’s later funding rounds as it was already cutting jobs and restructuring operations.
Qatar Holdings was represented by law firm Drew & Napier, while Byju Investments was represented by Fervent Chambers.