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Edutech founder Byju Raveendran has reacted to reports of a Singapore court sentencing him to six months in prison for contempt. According to reports, Raveendran was sentenced to jail time after the court observed that he had disobeyed orders related to his assets dating back to April 2024.
Reacting to the order Raveendran claimed that the reports had created a misleading impression. Raveendran claimed that the lenders, including GLAS Trust and QIA, as well as other stakeholders, have been in discussions with the founders and other parties. Raveendran said that a settlement had been agreed in principle, with only a few residual minor issues left to be finalised between certain parties and he has no role in those remaining issues. "I am disappointed that the recent Singapore court matter has been pursued and reported in a manner that creates a misleading impression about me, especially at a time when all key parties have almost concluded the settlement discussions. As part of the settlement discussions, the parties have also acknowledged that there has been no wrongdoing on my part or on the part of the other founders. That is why it is deeplyunfortunate that this matter is being used to create a contrary public narrative at this sensitive stage," Raveendran said in a statement. "It is important to clarify that I have not been actively contesting several court proceedings in recent months precisely because the parties were working towards a comprehensive settlement. I chose resolution over confrontation. Against this backdrop, the decision by QIA to continue pressing this matter appears to be an unnecessary pressure tactic at a sensitive stage of the settlement process," he added. Calling the report emerging from Singapore a one-sided narrative, Raveendran said that his priority was to support a constructive resolution to the case. "I have always maintained that I acted in good faith and in the best interests of BYJU'S, its employees, students and stakeholders. I have also placed on record that neither I nor any of the founders personally received any portion of the disputed funds, and that the funds wereused for legitimate business purposes. Even today, my priority is to support a constructive resolution and avoid saying anything that may affect the ongoing settlement process. However, I cannot allow a false and one-sided narrative to go uncontested and I strongly reject any such incorrect portrayal," he said. (ANI)
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