Curious : can the person, who has already bought JioHotstar domain name be sued ?

Okay so the situation as most of you might be aware of is, that a random person bought the JioHotstar domain name before reliance could buy it and now he demands that Reliance has to fund his higher education in exchange for letting go of the domain name. From where I stand this seems to be extortion as he purposefully bought the domain to later demand financial gain from reliance. Can he realistically be booked and sued into the ground ?