New Delhi: A US bankruptcy court has reversed a USD 1 billion damages ruling against Byju Raveendran, according to a statement from the founders of Think and Learn Pvt Ltd - the parent firm of ed-tech platform Byju’s.
The Delaware Court had, in a default ruling last month, ordered Raveendran to pay more than USD 1 billion, saying the former corporate star who set up the eponymous Indian edtech and tutoring company, had refused to cooperate with legal efforts to locate almost half the proceeds from a USD 1.2 billion US term loan made in 2021.
He, however, contested the grounds, saying the court did not give him the 30 days he had sought to arrange for a US attorney to argue his case. He vowed to appeal against the order.
“The Delaware Court has reversed the USD 1 billion Judgement against Byju Raveendran, in view of fresh submissions made by Byju Raveendran through a motion to correct the Judgement of 20 November 2025. The Court agreed that damages had not been determined and ordered a new phase to commence in early January 2026 to determine any damages related to claims against Byju Raveendran,” the statement said.
The court in the December 8 order said it will “amend its Default Judgment Opinion to remove those sections assessing damages against Byju Raveendran.”
It directed parties to provide their respective positions on the issue on January 7.
“An appropriate judgment order will be entered by the court following the completion of briefing on damages,” it said.