Axis Bank has taken a significant step by filing a plea with the National Company Law Tribunal (NCLT) to commence insolvency proceedings against Zee Learn, as revealed by the education services provider in a regulatory filing to stock exchanges on December 26.
In the filing, Zee Learn disclosed, “A petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 has been filed by Axis Bank Limited to initiate Corporate Insolvency Resolution Process (CIRP) of the Company, before the Hon’ble National Company Law Tribunal, Mumbai.”
Zee Learn acknowledged the receipt of a notice from the Mumbai-bench of NCLT and is currently in the process of gathering information to verify the facts presented in Axis Bank’s petition. The company committed to keeping the stock exchanges updated on further developments in this matter.
As part of the Essel Group, Zee Learn operates predominantly in the education sector, managing a chain of K-12 schools under the brand Mount Litera Zee School and a pre-school network known as Kidzee. The company underwent a rebranding exercise recently, with a focus on fostering the next generation and preparing them for the future.
Manish Rastogi, Whole-time Director CEO of Zee Learn, emphasized the significance of the brand transformation, stating, “The revamp of Zee Learn brand is a pivotal moment in our educational journey. We are dedicated to delivering education that not only equips our students with knowledge but also empowers them to be confident, critical thinkers who contribute positively to society.”
On the stock market, Zee Learn’s shares closed 4.84% higher at ₹6.28 apiece, while Axis Bank’s shares settled 0.59% higher at ₹1,094.25 apiece on Tuesday.
of course like your website but you have to check the spelling on several of your posts A number of them are rife with spelling issues and I in finding it very troublesome to inform the reality on the other hand I will certainly come back again
Wow amazing blog layout How long have you been blogging for you made blogging look easy The overall look of your web site is magnificent as well as the content
Cost-Effective: Get more for less. Enjoy a wider array of features and more robust AI assistance at a fraction of the cost.
I have been browsing online more than three hours today yet I never found any interesting article like yours It is pretty worth enough for me In my view if all website owners and bloggers made good content as you did the internet will be a lot more useful than ever before
Fantastic site. A lot of helpful info here. I’m sending it to some buddies ans additionally sharing in delicious. And naturally, thanks on your sweat!
you are truly a just right webmaster The site loading speed is incredible It kind of feels that youre doing any distinctive trick In addition The contents are masterwork you have done a great activity in this matter
I was recommended this website by my cousin I am not sure whether this post is written by him as nobody else know such detailed about my trouble You are amazing Thanks
Efficient Voice-to-Text Feature: Transcribe speeches, lectures, or conversations with ease.
I loved as much as you will receive carried out right here The sketch is tasteful your authored subject matter stylish nonetheless you command get got an edginess over that you wish be delivering the following unwell unquestionably come further formerly again as exactly the same nearly very often inside case you shield this hike