Zee Learn shares nearly 10% nosedive while NCLT is aware
Zee Learn: Zee Learn shares nearly 10% nose dive as NCLT issues notice on Yes Bank’s insolvency petition against the company
Shares of Zee Learn plunged nearly 10 percent after the National Company Law Tribunal (NCLT) issued a notice of the initiation of insolvency proceedings against the company by Yes Bank Ltd.
The NCLT sent notice to Zee Learn and placed the case on June 8 for a hearing.
Yes Bank had moved the NCLT to start insolvency proceedings against the company for alleged default on a loan of Rs 468 crore.
Zee Learn’s stock plunged nearly 10 percent to about Rs 9 on the BSE and NSE.
The company said Yes Bank allegedly claimed that the total amount in default regarding a financial facility is Rs 468 crore.
Zee Learn has received a message from the Mumbai Bank of the NCLT about Yes Bank’s petition and is gathering information to verify the facts.
