A Singapore court has sentenced Baiju Raveendran, founder of leading edtech startup BYJU'S, to six months in jail for repeatedly violating court orders related to asset disclosure (contempt of court). The move was made on a petition filed by a subsidiary of the Qatar Investment Authority (QIA). Following the adverse verdict from the court, the court has asked him to pay ₹90,000 Singapore dollars as court costs and surrender before officials by June 15.

However, Baiju Raveendran responded that this was just a pressure tactic as the final settlement talks with creditors and investors are progressing. He clarified that this was only a technical contempt of court case due to disputes over the submission of documents, and that the court had not found any corruption or financial fraud, and said that he had the legal opportunity to appeal against it.

The verdict is a major setback for Byju's, which has become India's most valuable startup after attracting billions of dollars in investment during the Covid era. The company, which is currently facing several legal battles and financial crises in the US and India, is currently going through insolvency proceedings in India.