Date: July 17, 2026
Disclosure Context
- Disclosure made pursuant to Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- Company is under Corporate Insolvency Resolution Process (CIRP) since December 16, 2022 per NCLT Order
- Mr. Arihant Nenawati appointed as Resolution Professional on January 22, 2024
- Committee of Creditors constituted on August 21, 2023
Material Operational Developments
- Company facing material operational challenges due to adverse business conditions
- Mass resignation from faculty and support staff
- Lower-than-expected student enrolment and rollover
- Significant financial stress leading to additional employee resignations
- Challenges in maintaining seamless academic operations across various centres
- Number of students have discontinued their enrolments
- Students appear to be exploring opportunities to shift to other coaching institutes
Expected Impact
- Adverse impact on company's revenue
- Adverse impact on financial performance
- Adverse impact on overall business operations