Byju Raveendran's Singapore jail sentence upheld
What's the story
The High Court of Singapore has rejected an appeal by Byju Raveendran, the founder of failed education start-up BYJU'S. The court denied Raveendran's request to overturn a six-month jail sentence for contempt, effectively barring him from returning to Singapore unless he is ready to serve the term. His law firm Lazareff Le Bars confirmed this in a statement on Tuesday.
Legal stance
Raveendran maintains his innocence
In response to the court's decision, Raveendran has maintained his innocence in relation to any alleged breaches of court orders.
His lawyer, J. Michael McNutt from Lazareff Le Bars, said that "Mr. Raveendran maintains that he did not breach any court order, intentionally or otherwise."
He also added that they will continue pursuing every lawful remedy through the proper legal process.
International disputes
Raveendran is facing claims from foreign investors
Raveendran is facing claims from foreign investors across the globe. This includes lenders in the US who are trying to recover losses from a $1.2 billion loan that went bad.
In Singapore, he is being pursued by a subsidiary of Qatar Investment Authority (QIA), a sovereign wealth fund that invested in BYJU'S during its job cuts and layoffs phase.
Legal proceedings
Qatar Investment Authority welcomes ruling
Qatar Investment Authority has welcomed the Singapore High Court's ruling and will continue pursuing all legal remedies against Raveendran.
However, it is not clear when or if he intends to visit Singapore.
McNutt said, "In the future, should he be in or intend to travel to Singapore, he may appeal then and the court will deal with it."