Latest news about Zee Learn
NCLAT Permits Withdrawal of Insolvency Appeal Against Digital Venture Private Limited 4 days ago
The National Company Law Appellate Tribunal (NCLAT) has permitted the withdrawal of an appeal related to the Corporate Insolvency Resolution Process (CIRP) against Digital Venture Private Limited (DVPL), following a settlement with its financial creditor, Assets Care and Reconstruction Enterprise Limited (ACRE). NCLAT has granted a two-week window to file a CIRP withdrawal application at NCLT Mumbai, which is expected to decide on the matter within a month. The stay on CIRP remains until NCLT's decision. DVPL, operating schools with over 5,000 students, faced insolvency proceedings over a debt of Rs. 10,63,54,26,47.20. This development potentially ensures educational continuity for thousands of students.