Karnataka HC Attaches Byju Raveendran's Beneficial Stake in Aakash Shares

<h3>Court Orders Share Attachment</h3> The Karnataka High Court has issued an ad-interim order attaching 17,891,289 equity shares of Aakash Educational Services Ltd., where Byju Raveendran holds a beneficial interest. This action stems from enforcement proceedings initiated by Qatar Holding LLC.

Justice Sunil Dutt Yadav stated the attachment is crucial to prevent a prior interim injunction, granted in September 2025, from becoming ineffective. The earlier order restrained the award debtor from alienating or encumbering assets. The court noted that an ad-interim order was necessary to ensure the enforcement of the September 2025 interim order is not compromised.

<h3>Dispute Background</h3> The legal battle traces back to a September 2022 funding deal where Qatar Holding advanced $150 million to Byju's Investments. These funds were used to acquire shares in Aakash Educational Services Ltd., a significant acquisition for Byju's. The transaction was secured by a share pledge and Byju Raveendran's personal guarantee.

Qatar Holding terminated the agreement in February 2024, alleging defaults and demanding an early repayment of $235 million. Arbitration commenced under the Singapore International Arbitration Centre rules.

<h3>Legal Battles and Enforcement</h3> In March 2024, an emergency arbitrator restrained asset disposal, an order later enforced by the Singapore High Court. The Karnataka High Court initially dismissed Qatar Holding’s petitions in April 2025, suggesting interim measures be sought before the tribunal. However, interim protections were temporarily continued.

Following a partial final award from the tribunal, Qatar Holding sought enforcement from the Karnataka High Court. This included requests for an injunction against asset alienation and attachment for satisfying the award. In September 2025, the Court granted an interim injunction prohibiting asset alienation.

Qatar Holding later informed the High Court about alleged subsequent transfers of shares in Beeaar Investco Pte. Ltd., the entity holding the Aakash shares, despite the September injunction. The court, acknowledging these developments and the protection of equity shares held through Beeaar Investco beneficially owned by Raveendran, affirmed the earlier restraint and ordered the attachment.
The court clarified that this attachment is a provisional arrangement, subject to final orders.