Byju Raveendran: US Court Reverses USD 1 bn Damages Ruling

• A US bankruptcy court reversed a USD 1 billion damages ruling against Byju Raveendran, founder of Byju's.
• The original ruling was due to Raveendran's alleged refusal to cooperate in locating proceeds from a USD 1.2 billion loan.
• The court agreed to amend its default judgment, removing sections assessing damages against Raveendran.
• A new phase to determine any damages related to claims against Raveendran will commence in early January 2026.
• Raveendran denies allegations of diverting funds and plans to file a USD 2.5 billion lawsuit against GLAS Trust.

Why It Matters: US court reverses $1B damages against Byju Raveendran, offering a legal reprieve.