Singapore, June 12 (IANS). The General Division of the High Court of Singapore has stayed parts of the civil contempt order issued against Byju’s founder Byju Raveendran. This has given them temporary relief while they challenge this decision through appeal.
According to the statement, the Singapore court, after considering the application filed by Raveendran, has stayed the provisions of his detention and surrender under its civil contempt order dated May 25.
Due to this, he is not required to surrender and will not be sent to jail pending the appeal process.
The development comes after media reports said that an arrest warrant was issued against Raveendran following the original court order.
The statement termed such reports as false and clarified that no court had ever issued any arrest warrant against him.
It also said that in the order dated May 25, Raveendran was asked to appear in the court only on June 15.
The contempt of court case relates to the ongoing dispute over disclosure of documents and other responsibilities associated with arbitration proceedings.
According to the statement, these arbitration orders are being challenged in separate legal proceedings and efforts are underway to get them cancelled.
Commenting on the matter, J. Ravindran and Senior Litigation Advisor to the founders of Lazareff Le Bars. Michael McNutt said that the information spread among the public regarding this case was misleading.
“By word of mouth, selected excerpts from the Singapore court’s previous order were leaked and a completely false narrative was spread among the public that an arrest warrant had been issued against Raveendran,” McNutt said.
He stressed that there are no criminal charges against Raveendran in this case and no court has found him guilty of fraud, dishonesty, misappropriation of funds or any personal wrongdoing.
Welcoming the court’s decision, Raveendran said he was determined to correct the false narrative through legal means, which he described as misleading.
“At a time when the parties are negotiating a settlement, it is unfortunate that a false perception of wrongdoing is being created. I am committed to correcting this narrative through the proper legal process,” he said.
“Neither I nor any of the founders personally received any part of the disputed funds. On the contrary, I and my family have invested more than Rs 5,000 crore from our personal wealth back into the company,” Raveendran said.
–IANS
abs