US Court Revokes Billion-Dollar Judgment Against Indian Tech Titan Byju Raveendran

A US bankruptcy court has reversed a billion-dollar judgment against Byju Raveendran. The initial ruling accused Raveendran of failing to disclose funds from a 2021 loan. The reversal follows new evidence suggesting money was reinvested in the parent firm, Think and Learn Pvt Ltd. Further legal actions are anticipated.

A US bankruptcy court has overturned a previous ruling demanding Byju Raveendran to pay over USD 1 billion, citing fresh evidence. This decision arises weeks after a Delaware court accused him of not cooperating in locating funds from a substantial US loan.

The accusations, labeled 'baseless' by Raveendran, were part of a broader legal battle involving his co-founders and GLAS Trust. Raveendran maintains the funds were reinvested in Think and Learn Pvt Ltd, the parent company of Byju's.

Further legal confrontations are expected, with Raveendran planning to sue for USD 2.5 billion. His legal team aims to demonstrate that GLAS Trust misled the court, impacting millions and leading to job losses within Byju's operations.