Legal troubles compounded for Byju Raveendran as a Singapore court sentenced him to six months in jail. This and more in today’s ETtech Top 5.Also in the letter:■ FMCG’s qcomm ride■ SK Hynix, Micron join trillion-dollar club■ India begins cybersecurity checksByju Raveendran sentenced to six months jail by Singapore court for contempt A Singapore court has sentenced Byju Raveendran to six months in jail in a contempt case tied to ongoing proceedings, piling fresh legal pressure on the founder of the eponymous bankrupt edtech firm.What’s the news: The court ordered Raveendran to serve jail time after finding that he disobeyed multiple asset-related orders dating back to April 2024.Raveendran’s stance: He called the order a procedural contempt matter linked to document disclosure, not a finding of fraud or wrongdoing. He is scheduled to appear on June 15 and says appeal options remain open.Quote, unquote: “I am disappointed that the recent Singapore court matter has been pursued and reported in a manner that creates a misleading impression about me, especially at a time when all key parties have almost concluded the settlement discussions,” he said.Settlement talks: Raveendran said settlement discussions with lenders and stakeholders – including GLAS Trust and Qatar Investment Authority – are largely in place “in principle”, with only a few residual issues still to be ironed out, sources told us.PhysicsWallah posts 50% rise in Q4 revenue; swings to Rs 69 crore loss Physicswallah founders Pareetk Maheshwari and Alakh PandeyPhysicsWallah reported a strong rise in operating revenue for the March quarter, buoyed by growth in paid users and a rapid buildout of its offline centre network. However, the surge came with a swing into the red.Financials:Operating revenue: Up 50% year-on-year (YoY) to Rs 919 crore.Net loss: Rs 69 crore versus Rs 102.3 crore net profit in the previous quarter. For the full year FY26, operating revenue grew 35% YoY to Rs 3,899 crore. The company sharply narrowed its annual loss to Rs 24 crore, from Rs 243 crore in FY25.SC upholds govt retrospective 28% GST levy on online gaming companies In a major setback to online gaming companies, the Supreme Court has upheld the government’s retrospective 28% Goods and Services Tax (GST) levy on the sector, effectively validating past tax demands.Driving the news: The apex court ruled that online gaming platforms are not mere intermediaries and that their activities give rise to actionable claims under the GST law. It held that the amendments enabling the levy are clarificatory in nature and therefore apply retrospectively.Verbatim: "Online gaming activities, including fantasy sports and other games played on digital platforms, involving staking upon uncertain outcomes, constitute betting and gambling for the purpose of the GST framework," the bench said.Setting context: In October 2023, GST authorities issued show-cause notices to online gaming firms over alleged tax evasion. The government then amended the GST law, making it mandatory for overseas online gaming companies to register in India from October 1, 2023, onwards.In August 2023, the GST Council clarified that online gaming would attract 28% GST on the full value of bets placed. Gaming companies challenged these demands in various high courts, contesting the revenue department’s interpretation.Quick commerce becomes FMCG's biggest online sales channel in India Quick commerce has emerged as the dominant online channel for India’s top FMCG companies, with brands like Dabur and Britannia now generating up to 75% of their digital sales from 10-minute delivery platforms.Number-wise:Latest disclosures from companies such as ITC Ltd, AWL Agri Business, Tata Consumer Products, and Parle Products show that quick commerce accounted for 60-75% of their total online sales in FY26.For Britannia and Tata Consumer Products, quick commerce now accounts for more than 70% of online sales.At Dabur, the share jumped to 75% in the fourth quarter ended March from 50% in the December quarter. Why the growth: Executives say consumers increasingly use quick commerce for frequent top-up purchases and instant replenishment, making it especially powerful in large cities and increasingly relevant in smaller towns, too. FMCG firms are expanding assortments on these platforms and using the channel to protect and even improve margins.Inside take: Britannia said quick commerce is lifting sales in adjacent categories, while Dabur and Marico reported strong demand in foods, beverages, personal care, and home care.Saugata Gupta, managing director of Marico, said quick commerce is likely to dominate in foods, while specialised ecommerce players such as Myntra and Nykaa will remain strongholds for personal care.AI rally: SK Hynix, Micron Technology join trillion-dollar club; Taiwan bourse overtakes India in market value An AI-fuelled market rally is rapidly reshaping the global trillion-dollar club, with chipmakers and Big Tech firms driving massive gains in market value.Chip giants:SK Hynix crossed the $1 trillion mark on Wednesday, powered by a sharp rally in its AI memory chip business.Samsung Electronics entered the club on May 6 as soaring demand for AI chips lifted semiconductor stocks.Micron Technology crossed $1 trillion earlier this week amid strong investor optimism around AI infrastructure.Taiwan Semiconductor Manufacturing Company, which crossed the threshold in July 2025, now trades at around a $1.95 trillion. Indian government, tech firms running tests for Anthropic's Mythos threat India has begun systemic cybersecurity checks on critical banking and government software as global concern grows over Anthropic’s advanced AI model, Mythos, according to a Bloomberg report.Testing vulnerabilities: Infosys and Tata Consultancy Services are probing software systems for potential vulnerabilities that Mythos could exploit.Infosys is reportedly working on security patches for its Finacle core banking platform.India’s cybersecurity agency CERT-In is assessing key digital infrastructure, including Aadhaar and government login systems.Since companies do not yet have access to Mythos, they are using Anthropic’s Claude Opus 4.7 model for testing.Why it matters: Mythos has sparked global concern because of its ability to identify cybersecurity weaknesses that attackers could weaponise. India has opened discussions with the US government to secure controlled access to the mode as it looks to harden financial systems and public digital infrastructure against next-generation AI threats.