Overview

• Qatar Holding filed an August 12 petition in the Karnataka High Court asking that the Singapore award be recognised as a court decree, with injunctions against asset transfers and permission to attach or sell assets in India.
• A Singapore arbitral tribunal on July 14 ordered immediate payment of $235 million with 4% annual interest compounded daily from February 28, 2024, pushing the liability above $249 million.
• The case traces to a September 2022 $150 million loan to BIPL, personally guaranteed by Byju Raveendran, tied to 17,891,289 AESL shares that Qatar says were subject to a no‑transfer restriction.
• An emergency arbitrator issued a worldwide freezing order in March 2024, later upheld by the Singapore High Court, to prevent dissipation of assets up to $235 million.
• In parallel, Raveendran faces a Delaware court civil contempt order imposing $10,000 per day for non‑disclosure, while Byju’s parent remains in insolvency proceedings.