Singapore court stays order to jail Byju's Founder, lawyer says
Singapore’s high court has granted a stay on a si month jail term for the founder of failed Indian technology firm Byju’s, his law firm
Singapore’s high court has granted a stay on a si month jail term for the founder of failed Indian technology firm Byju’s, his law firm Lazareff Le Bars said. The decision marks a reprieve for an entrepreneur battling creditors in courts around the world.
It followed a ruling last month that sentenced Byju Raveendran to half a year’s imprisonment for contempt and ordered him to pay costs of S$90,000 ($70,000), saying he disobeyed orders related to his assets dating back to 2024. Also Read | Byju Raveendran gets 6-month jail term from Singapore court in contempt case That marked the first time a judge has threatened to imprison the once prominent entrepreneur, who founded one of India’s highest-profile upstarts before a post-Covid slump pummeled the business.
An appeal against the contempt finding has been filed, the lawyers said. Raveendran’s founding of educational technology firm Think & Learn Pvt — better known as
Byju’s — turned him into a billionaire, making him one of the biggest success stories among a wave of Indian startups that attracted capital from global firms.
The BriefWire