Byju Raveendran, the founder of Byju’s, has been sentenced to six months in jail by a Singapore court in a contempt of court case, adding to the mounting troubles surrounding the embattled edtech company.
The court said Raveendran repeatedly failed to comply with several court orders issued in April 2024. Along with the jail sentence, he has also been directed to surrender before authorities and pay $70,500.
According to a Bloomberg report, the Singapore court found that Raveendran did not submit several key documents related to his assets. The court also ordered him to provide documents connected to his legal stake in Beeaar Investco Pte.
Raveendran is already facing claims from foreign investors in multiple countries. In the United States, the company is involved in disputes linked to a $1.2 billion loan, where lenders are attempting to recover their losses. Pressure from investors and creditors is reportedly continuing to rise.
Once considered one of India’s most successful startup entrepreneurs, Raveendran had built Byju’s into a major edtech company backed by global investors, which also made him a billionaire. However, the company has recently been struggling with financial difficulties, layoffs, and multiple legal disputes.
The Singapore court’s ruling is being seen as another major setback for the founder and the company.
