How to sue an employer after revoking a job offer?

I received an offer letter from a company (the offer letter has the Managing Director's name mentioned but no signature) which was accepted by me (via email confirmation).

This was followed by a face-to-face meeting with MD to finalize my joining date (which was agreed to be 01-Apr-2021). Accordingly, the new employer asked me to resign from my current job and submit a business plan for my new role.

I resigned from my current position and, as requested, a business plan was submitted. I and my new employer, along with another co-founder, had a detailed discussion on zoom call on the business plan and everything seemed fine.

Suddenly, after that meeting, my new employer is not responding to my calls and messages. Also, they are not giving any clarity on my joining date.

In case my new employer revokes the offer, do I stand a chance to sue the company and claim compensation?