The Qatar Investment Authority, acting through its arm Qatar Holding, has approached the Karnataka High Court to enforce a $235 million arbitration award against Byju Raveendran and his investment vehicle, Byju’s Investments Pte Ltd (BIPL).
The award, delivered by a Singapore tribunal in July 2025, carries daily-compounded interest at 4% from February 2024, pushing the total owed above $249 million.
The petition, filed on August 12, 2025, seeks relief from the court to treat the arbitral award as a decree, block any transfer of assets, and allow attachment or sale of property in India.
The roots of the case go back to September 2022, when Qatar Holding lent $150 million to BIPL. The loan, personally guaranteed by Raveendran, was meant to help buy nearly 17.9 million shares in Aakash Educational Services. Crucially, the deal barred the transfer of those shares. They were later shifted to another Singapore entity controlled by Raveendran, which Qatar claims broke the agreement.
When repayments faltered, Qatar called in the full $235 million. An emergency arbitrator in Singapore responded in March 2024 with a worldwide freeze on BIPL and Raveendran’s assets, a measure later upheld by Singapore’s High Court. The Singapore International Arbitration Centre then issued its final award on July 14, 2025, ordering immediate payment plus interest.
Even before that, Qatar Holding had tried to secure assets in India. In April 2025, the Karnataka High Court declined sweeping restraints on asset transfers, saying such relief should come from the tribunal, but did freeze dealings in Aakash shares for a limited period. With the award now final, the sovereign fund has returned to Bengaluru to make the order bite.
Raveendran’s challenges are not limited to India. In the US, a bankruptcy court in Delaware found him in civil contempt for failing to provide financial disclosures in proceedings involving a Byju’s subsidiary. He faces a fine of $10,000 per day until he complies.
Back home, Think & Learn Pvt Ltd, Byju’s parent company, is caught in insolvency proceedings of its own. Creditors and regulators are scrutinising unpaid obligations, including a Rs 158 crore sponsorship debt to the BCCI, and disputes over who controls the company. Both the Supreme Court and company law tribunals have been active in hearings through 2025.
Edited by Jyoti Narayan
