Byju Raveendran sentenced to six months in jail and fined Rs 67 lakh; Court orders immediate surrender

NEW DELHI: The founder of Byju's Learning App has been sentenced to six months in prison by a Singapore court. The sentence is for repeatedly violating the demand to produce information about his assets and failing to appear in court. The court order states that Byju Raveendran must surrender to the authorities immediately and deposit 90,000 Singapore dollars (Rs 67.46 lakh). The court had asked Byju Raveendran to produce documents about his assets from April 2024. When he failed to comply, action was taken against him for contempt of court.

The court has asked Byju Raveendran to submit documents establishing the legal ownership of Beer Investco Private Limited in Singapore. The court order was issued in response to a complaint filed by a subsidiary of Qatar Investment Company. The current court ruling is a major setback for Byju Raveendran, who is already facing legal challenges from foreign investors in various courts. His current whereabouts are unclear.

Legal proceedings are also underway against Byju's in the US. A US court has also issued strong warnings to Byju Raveendran in connection with a $1.2 billion loan default. Byju's Learning App, which emerged as one of India's top startups, had attracted significant global investments. It had gained worldwide fame before it suddenly collapsed.