Educomp Solutions

Assets worth Rs 90.31 crore of a Gurugram-based Educomp Group company have been attached under the anti-money laundering law in connection with an alleged bank loan fraud case, ED said on Monday.

After filing the FIR, the agency carried out searches at eight locations in Delhi, Dehradun and Gurgaon on the premises of Educomp Solutions, Edu Smart and its directors, the officials said.

SFIO has identified at least two land transactions done by Educomp by allegedly using proxies at over-inflated prices, it is learnt

The auditor's report raises questions over its balance sheet and there is evidence to show its core business was effectively transferred to a separate but connected company before IBC process started

On March 13, NCLT will have a final hearing on the resolution plan

New Delhi, 25 OctoberEducomp Solutions' insolvency may see lenders taking deep haircuts, just like in Synergies Dooray Automotive. A company that offers technology solutions to schools, Educomp walked the insolvency route to pay up lenders.Sources handling the insolvency case stated that lenders might have to take more than 50 per cent haircut as dues amounting to almost ~3,000 crore contrasted annual revenue of ~150-200 crore seen over the past few years. For instance, in 2015-16, the company clocked ~223 crore of revenue that resulted in a net loss of ~343.34 crore. As such, serviceability of the debt remained a challenge. Although an option, liquidation will be far worse for the lenders, fetching them just 5 per cent to 10 per cent of their dues, said the sources, explaining that the asset base remains low, most of it comprising intellectual properties.However, three to four investors have shown interest in investing in the company, the sources added. The company's resolution ...

It has 67 per cent stake in Vidya Mandir Classes, which is a subsidiary of Educomp Learning Hour Private Limited

Shares of Educomp closed at Rs 13.31 a unit, down by 0.08 per cent compared to its previous close, at BSE on Tuesday

Stock prices of two key players, Educomp and Core Eduction, have plummeted to below Rs 15 a share the past five years