Court admits Qatar Holding plea to enforce Byju's arbitration award

A company called Qatar Holding lent a big amount of money to a company linked to the popular learning app Byju's.

The money was supposed to help buy shares in another company called Aakash, which makes test-prep materials.

Later, Qatar Holding wanted its money back and said the shares were given to another company without permission.

It took the dispute to the Singapore International Arbitration Centre, which decided the Byju's founder and his company must pay over $235 million.

Qatar Holding is now asking the Karnataka High Court to enforce those decisions and also to get back SGD 7.2 million in arbitration costs.

The court has agreed to hear the case and asked Byju's to respond.

A judge is also looking at freezing some of the founder's money and property until the case is decided.

The founder may have to tell the court about everything he owns.

The next court hearing will be in September.

This is part of a bigger money problem involving Byju's and its lenders.