Private lender Yes Bank Limited has approached the National Company Law Tribunal (Mumbai) against Zee Learn..A bench comprising judicial member Justice PN Deshmukh and technical member KK Vohra issued notice to Zee on the application filed under Section 7 of the Insolvency and Bankruptcy Code..The application filed through advocate Dharmesh Jain was against alleged default of about ₹468 crores by Zee. The matter was adjourned for hearing on June 8, 2022.“Yes Bank Limited has allegedly claimed that the total amount in default with respect to the financial facility is ₹468 crores. However, the Company is compiling information to verify the facts claimed in the said petition filed by Yes Bank Limited,” the company stated in the disclosure filed with the Securities Exchange Board of India (SEBI) as per their regulations..As per the official website, Zee Learn claimed to be India’s leading company in education segment with the fastest growing chain of K-12 schools - Mount Litera Zee School and India’s widely present preschool chain – Kidzee - having more than 1,900 operational schools in over 750 cities across India and neighbouring countries..[Read Order].[Read SEBI disclosure]
Private lender Yes Bank Limited has approached the National Company Law Tribunal (Mumbai) against Zee Learn..A bench comprising judicial member Justice PN Deshmukh and technical member KK Vohra issued notice to Zee on the application filed under Section 7 of the Insolvency and Bankruptcy Code..The application filed through advocate Dharmesh Jain was against alleged default of about ₹468 crores by Zee. The matter was adjourned for hearing on June 8, 2022.“Yes Bank Limited has allegedly claimed that the total amount in default with respect to the financial facility is ₹468 crores. However, the Company is compiling information to verify the facts claimed in the said petition filed by Yes Bank Limited,” the company stated in the disclosure filed with the Securities Exchange Board of India (SEBI) as per their regulations..As per the official website, Zee Learn claimed to be India’s leading company in education segment with the fastest growing chain of K-12 schools - Mount Litera Zee School and India’s widely present preschool chain – Kidzee - having more than 1,900 operational schools in over 750 cities across India and neighbouring countries..[Read Order].[Read SEBI disclosure]
