Key facts
- Singapore's High Court has stayed a six-month jail sentence for Byju's founder, Byju Raveendran.
- The stay halts the committal and surrender provisions of an earlier contempt order.
- The civil contempt case is linked to loan guarantees and asset disclosure obligations.
- Raveendran stated that neither he nor the founders received any portion of the disputed funds.
- Byju's parent company, Think & Learn, is currently undergoing insolvency proceedings in India.
Singapore's High Court has granted a stay on a six-month jail sentence imposed on Byju Raveendran, the founder of the Indian edtech firm Byju's. The original ruling, issued on May 25, found Raveendran in contempt of court for allegedly disobeying orders related to his assets from 2024, and also mandated payment of S$90,000 ($70,000) in costs. Raveendran's legal team has filed an appeal against the contempt finding. The stay means he is not required to surrender to jail while the civil contempt case, linked to loan guarantees and asset obligations, remains sub judice. Raveendran stated that neither he nor the founders received any portion of the disputed funds, and that his family had invested over Rs 5,000 crore of personal wealth back into the company. The development comes amid ongoing insolvency proceedings for Byju's parent company, Think & Learn, in India. GLAS Trust, representing lenders of Byju's $1.2 billion term loan, is also pursuing recovery claims. The ownership of Aakash Educational Services, a key asset of Byju's, is central to several overlapping claims involving various entities.