Byju Raveendran’s long-running settlement talks face fresh strain after Singapore ruling

In 2022, QIA lent $150 million to Byju’s Investments Pte. Ltd, a Singapore-based entity linked to Raveendran against Aakash shares. QIA later alleged that these shares were transferred to Raveendran’s Beeaar Investco Pte. Ltd. Beeaar later emerged as a significant shareholder of Aakash, holding around 16% stake and subscribing to rights shares worth approx. ₹16 crore during Aakash’s time ₹250 crore rights issue. However, regulatory filings later showed that the same allocation appeared in the name of Bisy Philip, a UAE-based businesswoman, raising questions as to whether Beeaar retained, transferred or diverted the entitlement to Philip.