It doesn't look like he was CyberSquatting to me. I hope it resolves in his favor. If the person bringing the suit should win it would set a bad precedent for all Internet business.
Team Harsh are probably hoping for an internet-ignorant judge. I wouldn't want to bet on their likely success with that gambit.
"Mr.Mehta when was your business started?"
"2003".
"And when was the domain in question registered."
".... uh, 1999".
"Are you sure you want to proceed?".