Byju’s founder Byju Raveendran responded publicly on Wednesday (May 27) after a Singapore court sentenced him to six months in prison in a contempt of court case, insisting that neither he nor the other founders of the embattled edtech company committed any wrongdoing.

In a detailed statement posted on X, Raveendran sought to clarify that the Singapore proceedings were linked to procedural issues surrounding document disclosures in an ongoing legal dispute and not to allegations of fraud or financial misconduct.

“There is no wrongdoing on my part or by the other founders,” Raveendran said, describing the court order as a “procedural contempt of court order” rather than a judgment on the merits of the broader dispute.

What triggered the Singapore court action?

Earlier, the Singapore court had sentenced Raveendran to six months in prison after reportedly finding repeated violations of court orders related to the disclosure of assets and documents linked to Beeaar Investco Pte.

The court also directed him to surrender before authorities and imposed legal costs amounting to S$90,000, or roughly Rs 67 lakhs.

The case forms part of the wider legal and financial turmoil surrounding Byju’s and its controversial $1.2 billion term loan dispute involving lenders and investors.

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Raveendran says settlement talks were underway

In his statement, the Byju’s founder claimed that extensive settlement discussions had been ongoing between lenders, founders and other stakeholders for several months.

According to him, all parties had broadly agreed “in principle” on a settlement framework, with only a few unresolved issues remaining.

Raveendran also alleged that aggressive legal action had largely been paused over the past three months as negotiations progressed.

“All parties – the lenders and the founders – had in principle agreed not to actively pursue cases against each other,” he wrote, adding, “I chose resolution over confrontation.”

He further questioned the timing of the legal escalation and suggested that continued pressure from QIA may have been part of a negotiation strategy during a sensitive phase of settlement talks.

‘Not a finding of fraud’

A major focus of Raveendran’s statement was his attempt to separate the contempt ruling from allegations of fraud or dishonesty. Calling the order procedural in nature, he stressed that the ruling “was not a finding of fraud, dishonesty, or any wrongdoing on the merits.”

He also revealed that he had been directed to appear before the court on June 15 and said legal appeal options remain open.

The statement appeared aimed at reassuring stakeholders and countering growing concerns over Byju’s governance and financial troubles.

Mounting troubles for India’s once most valuable startup

The latest development adds to a series of crises that have engulfed Byju’s over the past two years. Once valued at over $22 billion and celebrated as India’s biggest edtech success story, the company has since faced mounting creditor disputes, investor backlash, delayed financial filings, employee layoffs, regulatory scrutiny and multiple court battles across jurisdictions.

The dispute surrounding the company’s $1.2 billion term loan has become one of the biggest flashpoints in its financial collapse, with lenders accusing the company of mismanagement and lack of transparency.

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Emotional appeal from Byju’s founder

Ending his statement on a personal note, Raveendran said he remained committed to resolving the crisis surrounding the company and defended his intentions throughout the journey.

“I have always acted in good faith – for BYJU’S, its employees, its students, and everyone who built this with us,” he wrote.

“After everything and giving everything back, I remain committed to seeing this through to a constructive resolution. The truth doesn’t change with a headline,” he concluded.