Axis Bank approached the National Company Law Tribunal (NCLT) in Mumbai to file insolvency against Zee Learn. Zee Learn is one of the big names in the corporate world. The document has been filed on December 26, 2023. The company works in the educational category and is owned by Essel Group. Currently, the Zee Learn share price is around ₹6 and this news may impact the share price in the trading session of 27th December 2023. It has a chain of K-12 schools, a pre school network Kidzee, and Mount Litera Zee School.
As per the information, Zee Learn has assured its stakeholders that it will inform the stock exchange about every further step in this process. Here is the official statement of Axis Bank Limited in this news.
Axis Bank Limited has said in its insolvency petition against Zee Learn “This is to inform you that 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,” a regulatory filing stated.
Most probably, the share price may be impacted tomorrow’s trading session after the circulation of this breaking news. You will get the latest updates here on this website, keep yourself updated by bookmarking this website.