In a significant development for Zee Learn Limited , the insolvency proceedings against the company have come to an end. J.C. Flowers Asset Reconstruction Private Limited has withdrawn its appeal before the Supreme Court of India, effectively concluding the Corporate Insolvency Resolution Process (CIRP) that had been initiated against Zee Learn.

Background of the Case

The case traces back to an order by the National Company Law Tribunal (NCLT) that had initially admitted and initiated the CIRP for Zee Learn Limited. However, this decision was later challenged by a suspended director of the company before the National Company Law Appellate Tribunal (NCLAT).

NCLAT's Intervention

On February 16, 2023, the NCLAT allowed the appeal filed by the suspended director of Zee Learn Limited. The appellate tribunal set aside the NCLT's order, effectively halting the insolvency proceedings against the company.

Supreme Court Appeal and Withdrawal

Following the NCLAT's decision, Yes Bank Limited, the original petitioner, challenged the order before the Supreme Court of India. However, in a twist of events, Yes Bank subsequently assigned its credit facilities and associated security interests to J.C. Flowers Asset Reconstruction Private Limited.

During a hearing, J.C. Flowers, through its learned Counsel, informed the Supreme Court that it no longer wished to pursue the matter. Consequently, the appeal was withdrawn, leading to its dismissal by the Supreme Court.

Implications for Zee Learn

This development marks a significant turn of events for Zee Learn Limited. The withdrawal of the appeal effectively concludes the insolvency proceedings against the company, potentially providing it with a fresh start and the opportunity to focus on its business operations without the cloud of insolvency hanging over its head.

Official Intimation

Zee Learn Limited, in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements), 2015, has officially intimated the stock exchanges about this development. The company's Company Secretary and Compliance Officer, Anil Gupta, confirmed the withdrawal of the appeal and its dismissal by the Supreme Court.

As the dust settles on this legal battle, stakeholders will be keenly watching Zee Learn's next moves and how this resolution impacts the company's future strategies and financial health.

Zee Learn Limited has announced the appointment of Mr. Parag Agarawal as a Non-Executive Independent Director, effective August 5, 2025. The decision was made during a board meeting held on the same day, following a recommendation from the company's Nomination and Remuneration Committee.

Appointment Details

Mr. Agarawal's appointment is for a five-year term and is not subject to retirement by rotation. The company will seek shareholder approval for this appointment in accordance with regulatory requirements. The board meeting, which commenced at 4:45 p.m. and concluded at 5:00 p.m., also confirmed that Mr. Agarawal is not debarred from holding the office of Director by any SEBI order or other authority.

Professional Background

Mr. Parag Agarawal brings over 22 years of diverse industry experience to Zee Learn's board. His career spans across various sectors, including:

• E-commerce
• Media
• FMCG (Fast-Moving Consumer Goods)
• Healthcare
• Education

Throughout his career, Mr. Agarawal has held significant positions in several prominent companies:

• Heinz India Private Limited (Career start)
• HT Media Group (Head of New Revenue Generation and Business Intelligence for 9 years)
• Aakash Education Services Limited (Revenue Management, Branch Operations, and Customer Service)
• Indiamart Intermesh Limited (Client servicing and product marketing)
• Shalby Limited (Led hospital chain expansion)

Currently, Mr. Agarawal is the Founder and Partner at Unconsult, where he focuses on business process mapping, change management, and business growth strategies.

Educational Background

Mr. Agarawal's educational qualifications include:

• B.Tech. in Electronics and Communications from IIT BHU
• PGDM from IIM Ahmedabad
• MBA exchange program at the Australian Graduate School of Management

Expertise and Contributions

According to the company's statement, Mr. Agarawal is recognized as a business leader with a track record of driving growth and profitability. His expertise includes:

• Setting up and growing multiple ventures
• Achieving multi-fold growth through market expansion, new product development, and strategic marketing
• Redefining business processes and improving productivity through data analytics, including AI-ML models
• Enhancing sales cycles
• Playing significant roles in acquisitions and IPOs

Board Relationship

The company has confirmed that Mr. Parag Agarawal is not related to any existing director on Zee Learn's board, ensuring independence in his role as a Non-Executive Independent Director.

This strategic appointment is expected to bring valuable insights and expertise to Zee Learn Limited as it continues to navigate the dynamic education sector.