Byju Raveendran's USD 1 Billion Reversal: A Legal Victory

A US bankruptcy court overturned a USD 1 billion damages ruling against Byju Raveendran, founder of the ed-tech platform Byju's. The court reversed its decision after fresh submissions revealed damages were undetermined. Byju's creditors accused him of misusing loan proceeds, but Raveendran vowed legal action against these claims.

A US bankruptcy court has overturned a USD 1 billion damages ruling against Byju Raveendran, founder of Byju's. The Delaware Court had initially ordered Raveendran to pay damages after he allegedly refused to cooperate in locating USD 600 million of a USD 1.2 billion loan granted in 2021.

Raveendran contested the grounds, citing insufficient preparation time, and the court reversed its judgment following new evidence submissions, scheduling further proceedings in January 2026. Allegations by creditors, including GLAS Trust, accused Raveendran and associates of 'masterminding the theft' of USD 533 million.

Raveendran denied these claims, arguing the funds were reinvested in the company and attributed misleading information by GLAS Trust to his financial struggles. He plans further legal action to clear his name and prove the misuse allegations unfounded.

(With inputs from agencies.)