Zee Learn Limited has informed the Exchange about General Updates
ZEELEARN · price
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Zee Learn has informed exchanges about an NCLAT order dated July 28, 2025, related to Digital Ventures Private Limited (DVPL), a related entity that runs schools with over 5,000 students. The NCLAT has permitted the suspended director of DVPL to withdraw the appeal against the original NCLT order that admitted insolvency proceedings (CIRP) for a claim of around Rs. 10.63 crore by the financial creditor (originally Axis Bank, now ACRE). The parties have reached a settlement, and ACRE had earlier communicated it did not wish to pursue the CIRP. Zee Learn now has liberty to file an application at NCLT Mumbai for withdrawal of the CIRP under Section 12A of the Insolvency and Bankruptcy Code within two weeks. NCLT Mumbai has been requested to decide the withdrawal application within one month, while the existing stay on CIRP proceedings (from December 2024) continues until then.
This is a positive development as it moves toward settlement and potential full withdrawal of insolvency proceedings against DVPL, removing a key overhang for Zee Learn. A successful withdrawal at NCLT would end the insolvency uncertainty for the related school-running entity, though the outcome remains pending NCLT's decision within the next month or so.