Qatar Holding moves Karnataka High Court to enforce $235 million award against Byju Raveendran

Qatar Holding LLC has moved the Karnataka High Court seeking enforcement of a Singapore International Arbitration Centre (SIAC) tribunal award against Byju Raveendran and Byju’s Investments. [Qatar Holdings v. Byju Raveendran].Qatar Holding has further prayed for:An injunction restraining Byju Raveendran, Byju’s Investments and their agents from parting with or encumbering assets;A warrant of attachment and sale of movable and immovable properties to satisfy the award;Appointment of a receiver to take possession of assets, revenues and receivables, with authority to sell them and hand over proceeds to Qatar Holding;A direction to the respondents to make full disclosure on oath of all assets and their location.The petition has been posted for admission along with an application for temporary injunction under Order 39 of the Code of Civil Procedure (CPC)..In September 2022, Qatar Holding advanced USD 150 million to Byju’s Investments under a cash-settled option transaction. The funding was used to acquire shares in Aakash Educational Services (Aakash Institute), Byju’s largest acquisition, valued at $1 billion.The loan was secured through a share pledge agreement and a personal guarantee from Byju Raveendran. Byju’s was required to repay $300 million by March 31, 2025. Qatar Holding, however, terminated the transaction in February 2024 citing defaults and demanded early repayment of $235 million.Arbitration was initiated under SIAC rules, and on March 28, 2024, an emergency arbitrator restrained Byju’s from disposing of assets. That award was subsequently enforced by the Singapore High Court..In April 2025, the Karnataka High Court had dismissed Qatar Holding’s Section 9 petitions seeking interim protection over Byju’s assets. Justice Ashok S Kinagi held that once a tribunal is constituted, interim measures must be sought under Section 17 before the tribunal and not under Section 9 before domestic courts. The Court, however, extended interim arrangements for three months to safeguard Qatar Holding’s interests.With the partial final award now rendered by the SIAC tribunal, Qatar Holding has turned to the Karnataka High Court to secure enforcement against Byju Raveendran and his investment entities..Follow Bar and Bench channel on WhatsAppDownload the Bar and Bench Mobile app for instant access to the latest legal news.