Byju Raveendran , jailed for 6 months....issues statemen

Byju Raveendran , jailed for 6 months....issues statemen

Former billionaire Byju Raveendran, who founded BYJU'S in 2011, has been sentenced to six months in jail in Singapore for contempt of court, Bloomberg reported.

He has been asked to surrender himself, pay costs of S$90,000 (67.45 lakh) and provide documents proving his legal ownership of Beeaar
Investco.

This comes after Raveendran's net worth dropped to zero over BYJU'S collapse.

BYJU'S Founder Byju Raveendran said his edtech startup's lenders, GLAS Trust and Qatar Investment Authority, have agreed in principle to a settlement, with a few residual minor issues remaining. "I've no role in those remaining issues," Raveendran said, adding, "I chose resolution over confrontation." It's still unclear where Raveendran is located currently, and if he will surrender in Singapore.