US court reverses $1-bn order against Byju Raveendran

A US BANKRUPTCY court has reversed a $1 billion damages ruling against Byju Raveendran, according to a statement from the founders of Think and Learn - the parent firm of edtech platform Byju's.

- PRESS TRUST OF INDIA

The Delaware Court had, in a default ruling last month, ordered Raveendran to pay more than $ 1 billion, saying the former corporate starwho set up the eponymous Indian edtech and tutoring company, had refused to cooperate with legal efforts to locate almost half the proceeds from a $ 1.2 billion US term loan made in 2021.