Byju Raveendran says settlement near after Singapore court contempt order
The Economic Times
Byju Raveendran faces a six-month jail sentence in Singapore for contempt of court but claims a settlement is near with lenders.Summary
Singapore court has sentenced Byju Raveendran to six months in jail for disobeying asset-related orders, marking a new escalation in his legal troubles. Raveendran described the order as a "procedural contempt of court order" arising from disputes over document disclosure, stating it is not a finding of fraud. He also announced that discussions with lenders, including GLAS Trust and Qatar Investment Authority, have resulted in a settlement being agreed in principle, with only minor issues remaining. Raveendran criticized the court matter as an "unnecessary pressure tactic" and reiterated that neither he nor the other founders personally received any portion of the disputed funds.
(Source：The Economic Times)