Axis Bank seeks IBC probe against Zee Learn
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New Delhi: Private sector lender Axis Bank has filed a petition against Zee Learn before the National Company Law Tribunal (NCLT) seeking insolvency proceedings against the education services provider firm.
The company has received a notice from the Mumbai bench of the NCLT in this regard, Zee Learn said in a regulatory filing on Tuesday. “A petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 has been filed by Axis Bank Ltd to initiate Corporate Insolvency Resolution Process (CIRP) of the Company before the National Company Law Tribunal, Mumbai,” it said.
The company is compiling information to verify the facts claimed in said petition filed by Axis Bank, Zee Learn added. Zee Learn has not mentioned the amount claimed by Axis Bank. It said: “The Company shall keep the exchange updated of the further developments in the matter.”
