Market Chatter: Singapore Court Grants Stay on Six-Month Jail Sentence on Byju Founder

MT Newswires06-15

The High Court of Singapore has granted a stay on the six-month jail sentence imposed on Byju founder, Byju Raveendran for contempt of court, according to a report by Bloomberg News on Friday.

The stay comes as a momentary reprieve for the founder as lawyers file an appeal against the underlying contempt finding, the report added.

Earlier, the court had found Raveendran to be disobeying court orders linked to his assets back to 2024, and was also ordered to pay costs of around SG$90,000, the report added.

The Byju founder is being pursued by a subsidiary of Qatar Investment Authority in Singapore for a funding round, the report noted.

Additionally, lenders from the US are looking to recover losses from a loan of $1.2 billion, the report further added.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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