Axis Bank moves NCLT to seek insolvency proceedings against Zee Learn

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 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.