Byju Raveendran, the founder of struggling edtech firm Byju’s, has been handed a six-month jail sentence by a Singapore court for contempt after allegedly ignoring multiple court directives concerning his assets, Bloomberg reported.

People aware of the matter said the court ordered Raveendran to surrender to authorities, pay S$90,000 (approximately $70,500) in legal costs, and submit documents establishing his ownership of Beeaar Investco Pte. This entity held shares in a related business.

The case in Singapore was brought by a subsidiary of the Qatar Investment Authority, which had invested in Byju’s during one of the company’s later funding rounds, at a time when it was already undergoing layoffs and operational restructuring. Qatar Holdings was represented by Drew & Napier, while Fervent Chambers appeared for Byju’s Investments.

The latest development deepens the legal troubles surrounding Raveendran, who is also facing a dispute with lenders in the United States over a defaulted $1.2 billion loan. Earlier, US courts had found him in contempt and imposed daily penalties for failing to comply with disclosure-related court orders tied to the matter.

Despite the ruling, Raveendran said negotiations with lenders and investors were close to being finalised and criticised attempts to create what he described as a “misleading impression” about him. In a statement following the judgment, he said a settlement had already been “agreed in principle” with only a few pending issues remaining.

“I am disappointed that the recent Singapore court matter has been pursued and reported in a manner that creates a misleading impression about me,” Raveendran said, adding that parties involved in the negotiations had acknowledged there was “no wrongdoing” on his or other founders’ part.

He also said he had deliberately avoided aggressively contesting several legal proceedings in recent months because stakeholders were focused on reaching a broader settlement. “I chose resolution over confrontation,” he said.

Raveendran started Think & Learn Pvt Ltd in 2011 along with his wife, Divya Gokulnath, after becoming well known as a mathematics trainer for competitive examinations. The company’s flagship learning platform, Byju’s, went on to become one of India’s most prominent startup success stories.

However, the company’s meteoric rise was eventually overshadowed by mounting concerns around corporate governance, delayed financial reporting, rising losses, and rapid expansion. By 2023, the company had begun cutting thousands of jobs amid a severe cash crunch and growing disputes with lenders.