New Delhi, Jan 27 (PTI) Insolvency appellate tribunal NCLAT has set aside the directions for a fresh valuation of shares, which were held by Educomp Solutions’ Singapore-based subsidiary Educomp Asia Pacific Pte in US-based firm The Learning Internet Inc and sold by SBI Singapore.
Wondering over the basis on which the Delhi bench of NCLT passed direction for fresh valuations, the appellate tribunal said Educomp Asia Pacific Pte Ltd (EAPPL) was being liquidated over the order passed by the High Court of Singapore and issues regarding the valuation of shares in The Learning Internet Inc could have been raised there in the proceedings.
“We wonder, on what basis the Adjudicating Authority (NCLT) could have intervened in…
Insolvency Guardian
Insolvency Services & Bankruptcy Advice
