Yes Bank has withdrawn its appeal before the Supreme Court regarding the insolvency allegations against Essel Group’s Zee Learn on August 6. The bank had claimed a default of ₹468.99 crore against the company in 2023. On Tuesday, Yes Bank said it wanted to drop the court proceedings on the matter.
“The Counsel for the Appellant ie. JC. Flowers Asset Reconstruction Private Limited on August 5, submitted before the Supreme Court that the Appellant no longer wishes to pursue the matter and seeks to withdraw the appeal. Accordingly, the Supreme Court has dismissed the appeal as withdrawn,” said Zee Learn in a stock exchange filing, adding that the court order is yet to be uploaded.
Originally, the the National Company Law Tribunal,…