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BYJU'S barred from selling assets amid $235 million arbitration award
BYJU'S just got blocked by the Karnataka High Court from selling some of its properties, as part of an ongoing legal battle with Qatar's sovereign wealth fund.
This move comes after a $235 million arbitration award favored the Qatari side, and follows a Singapore tribunal ruling that Qatar now wants enforced against BYJU'S.
BYJU'S has asked for more time to respond
It all started with a $150 million loan from Qatar to BYJU'S Investments back in 2022, personally guaranteed by founder BYJU Raveendran.
Now, with interest piling up since February 28, 2024, Qatar wants its money back—and is pushing for a freeze on asset sales plus full disclosure of what BYJU'S owns.
BYJU'S has asked for more time to respond, and the case will be heard further on Wednesday.