The High Court of Singapore has rejected Byju’s founder Byju Raveendran’s application seeking to overturn a six-month jail sentence for contempt of court, creating another legal setback for the former edtech billionaire, Bloomberg reported.
According to the report, Raveendran’s legal firm Lazareff Le Bars said the court dismissed his request on July 9 to halt the sentence.
The sentence was originally issued in May, after which the court had temporarily stayed its enforcement last month.
The ruling effectively means Raveendran could face restrictions on returning to Singapore unless he is prepared to serve the jail term.
However, his lawyers said the order will have practical implications only if he chooses to enter the country.
Raveendran, who founded Think & Learn Pvt Ltd, the parent company of Byju’s, has maintained that he did not violate any court order, either intentionally or otherwise.
His legal team said he would continue pursuing available remedies through the appropriate legal process.
“Mr. Raveendran maintains that he did not breach any court order, intentionally or otherwise, and will continue to pursue every lawful remedy through the proper legal process,” J. Michael McNutt, a lawyer at Lazareff Le Bars, said in a statement.
The decision comes amid multiple legal battles involving Raveendran and Byju’s investors worldwide.
The company, once valued at billions of dollars and considered one of India’s biggest startup success stories, faced a dramatic decline after aggressive expansion, financial difficulties and allegations of governance issues.
Raveendran is facing claims from international investors, including lenders in the United States seeking recovery of losses linked to a $1.2 billion loan extended to the company.
In Singapore, proceedings have been initiated by a subsidiary of Qatar Investment Authority (QIA), which had invested in Byju’s during its expansion phase. QIA welcomed the latest court decision and said it would continue pursuing legal remedies against Raveendran.
Raveendran is currently not in Singapore, and his lawyers said there is no certainty about whether or when he plans to travel to the country.
His lawyer added that if Raveendran enters Singapore in the future, he may pursue an appeal at that stage, and the court would consider the matter accordingly.
The latest ruling adds to the mounting challenges faced by Raveendran as creditors and investors continue legal efforts related to Byju’s financial disputes and unresolved obligations.
