Zee Learn Limited has informed regarding Disclosure of material issue
ZEELEARN · price
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Zee Learn's wholly-owned subsidiary Digital Ventures Private Limited (DVPL) was admitted into the Corporate Insolvency Resolution Process (CIRP) by the NCLT Mumbai Bench on November 19, 2024, following a petition by Axis Bank over unpaid debt. Axis Bank later assigned DVPL's debt to Assets Care and Reconstruction Enterprise Limited (ACRE) under an agreement dated March 28, 2025. ACRE has now informed the Interim Resolution Professional (via email dated June 4, 2025) that it does not intend to pursue the CIRP against DVPL, as the parties are in discussions for an amicable settlement of the account. ACRE has asked the Interim Resolution Professional to initiate steps to give effect to this decision.
This is a positive development for Zee Learn shareholders as it removes the insolvency overhang on its subsidiary DVPL and signals that lenders are open to an out-of-court settlement, potentially reducing financial and reputational stress on the company.