MUMBAI, Sept. 1 -- The Karnataka High Court has barred Byju Raveendran, founder of the troubled edtech firm, from selling or transferring any assets, in yet another setback for the once-celebrated startup. The order follows a petition by Qatar Holdings LLC, seeking enforcement in India of a $235 million arbitral award.

Qatar Holdings, a subsidiary of Qatar Investment Authority (QIA), had lent $150 million to Byju's in 2022 when the company was looking to invest in test-prep firm Aakash Institute.

A bench led by Justice R. Natraj, in his order on Monday, said, "Since the petitioners (Qatar Holdings) sought for an interim injunction to restrain the respondents (Byju's) from alienating the assets (mentioned in schedule A & B), it is approp...