BYJU'S founder Byju Raveendran has said that an "in-principle" settlement has been reached with lenders shortly after a Singapore court reportedly sentenced him to six months in jail in a contempt of court case linked to the embattled edtech firm's financial disputes.
Reacting to the court order, Raveendran said there had been "no wrongdoing" by him or the other founders of the company and described the Singapore proceedings as an "unnecessary pressure tactic" at a "sensitive stage" of the settlement process.
The Singapore case was reportedly filed by the Qatar Investment Authority (QIA), which had invested both in BYJU'S parent company and in one of Raveendran's personal holding companies.
According to reports, the Singapore court found Raveendran guilty of contempt over alleged non-compliance with court directives related to financial disclosures and asset information. The court reportedly ordered a six-month jail sentence along with legal costs.
Despite the setback, Raveendran claimed discussions with lenders and stakeholders had progressed significantly and that a settlement framework had already been agreed upon "in principle". He also criticised what he called a "false and one-sided narrative" surrounding the legal battle.
Byju Raveendran says that he has reached an "in-principle" settlement with the lenders after the Singapore court sentences him to six months in jail.
— Madhav Chanchani (@madhavchanchani) May 27, 2026
Adds that there is “no wrongdoing” by him or other founders.
Calls the Singapore court matter an “unnecessary pressure tactic”… pic.twitter.com/YZoktZ47MP
The latest development adds to the growing legal and financial troubles surrounding BYJU'S, once valued at nearly $22 billion during the peak of India's edtech boom. Over the past two years, the company has faced mounting debt, delayed financial filings, investor disputes and insolvency proceedings across multiple jurisdictions.
The ongoing disputes have also extended to the United States, where lenders and creditors have pursued legal action over a $1.2 billion term loan and alleged missing funds linked to company entities.
Founded in 2011, BYJU'S emerged as one of India's biggest startup success stories before witnessing a dramatic decline amid concerns over governance, cash flow and aggressive expansion.
