Singapore court sentences Byju's founder to six months in contempt case amid company collapse
By
Yunus Dar
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Summary
Byju Raveendran, founder of the edtech giant Byju's, has been sentenced to six months in jail by a Singapore court in a contempt case related to asset disputes and disclosures. This marks another major blow for the company, which was once valued at nearly $22 billion but has since collapsed under debt, legal battles, governance issues, and unpaid employee dues. The Singapore legal action runs parallel to ongoing US court proceedings involving lenders pursuing the company over its $1.2 billion US loan.
Key quotes
· 3 pulledByju Raveendran, the founder of edtech firm Byju's, has been sentenced to six months in jail by a Singapore court in a contempt of court case
The order marks the latest setback for the once high-flying startup that was valued at nearly $22 billion at its peak before collapsing under debt, legal disputes, governance concerns and mounting employee dues
While the legal battle was going on in the US courts, the lenders pursued Byju's in Singapore
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