Byju Raveendran Clarifies Singapore HC Proceedings, Says Appeal Is Yet to Be Heard

Singapore's High Court has rejected Byju Raveendran's request to halt a six-month jail sentence imposed on him for contempt, according to a Bloomberg report.

The court declined the application on July 9, the report said, citing a statement from Raveendran's law firm, Lazareff Le Bars. The sentence was originally handed down in May and was temporarily stayed last month.

The ruling effectively means Raveendran cannot return to Singapore without facing the jail term unless he pursues further legal remedies. His lawyer said Raveendran maintains that he did not intentionally violate any court order and will continue to challenge the decision through legal channels.

Legal Challenges Continue

Raveendran is also facing claims from foreign investors, including lenders in the United States (US) seeking to recover losses linked to a $1.2 billion term loan extended to Byju's.

The report added that a subsidiary of the Qatar Investment Authority (QIA) is pursuing legal action against Raveendran in Singapore. QIA welcomed the latest court ruling and said it would continue to explore all available legal remedies.

Raveendran is currently not in Singapore. His lawyer said the court's order would have no immediate practical impact unless he decides to travel to the country, adding that he could pursue an appeal at that stage.

What Byju Raveendran's Legal Team Says

Byju Raveendran's legal representatives have issued a clarification on the Singapore court proceedings, saying the July 9 hearing was limited to an application seeking a temporary stay on the contempt order while his appeal is heard by the Singapore Court of Appeal.

According to the statement, the High Court did not hear or reject Raveendran's substantive appeal against the contempt finding. It said the appeal remains pending before the Court of Appeal and that it is incorrect to suggest he has lost his bid to overturn the order.

The clarification also said reports suggesting the ruling had effectively barred Raveendran from returning to Singapore overstated the legal position. It added that he remains entitled to seek interim relief before the Court of Appeal and that the order has no practical effect unless he chooses to enter Singapore.

Quoting Raveendran's legal counsel, J. Michael McNutt of Lazareff Le Bars, the statement said, "The dismissal is about timing, not merits," adding that the underlying contempt order continues to be challenged before the Court of Appeal.

Byju's Crisis Deepens

Founded in 2011 as Think & Learn, Byju's became one of India's biggest edtech companies during the pandemic, backed by rapid fundraising and acquisitions, including Aakash Educational Services, Great Learning and Epic.

The company's financial troubles intensified after delays in filing audited financial statements, widening losses and governance concerns. The resignations of auditors and disputes with lenders over its $1.2 billion loan further added to its challenges.

The latest ruling adds to a series of legal and financial setbacks for Raveendran, who is also dealing with insolvency proceedings in India as Byju's continues to face legal disputes across multiple jurisdictions.