BENGALURU: The Delaware Court on Wednesday reversed its earlier $1 billion judgment after reviewing fresh submissions filed through a motion to correct the November 20 ruling.

The Court noted that damages had not been properly determined earlier and has ordered a new phase of proceedings in early January 2026 to decide whether any damages are owed.

According to Raveendran’s legal team, GLAS Trust and the lenders withheld or misrepresented critical information during the case.

They argue that this misinformation misled courts and the public, contributing to the collapse of the edtech business, the loss of around 85,000 jobs, the impact on nearly 250 million students, and the destruction of tens of billions of dollars in enterprise value.

Raveendran is also considering further legal act

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