Educomp Solutions’ application under the 2016 Insolvency and Bankruptcy code (IBC) was admitted by the National Companies Law Tribunal, on May 30, 2017, to ensure that the revival of the company is undertaken within the latest legal framework that exists in the country. The decision to file the application was taken after inordinate delays on the restructuring proposal that had been pending since early 2016.
The company had submitted a restructuring proposal to the consortium of bankers which is led by State Bank of India, where after the bankers appointed PricewaterhouseCoopers (PWC) to conduct a detailed techno-economic viability study (TEV study) of the company. After several rounds of discussions with PwC, the final report was submitted in September 2016. The report submitted by PwC was emphatic about the underlying viability of the business subject to the correction of balance sheet of the company.
Educomp Solutions provides learning solutions to schools, governments, teachers, students and parents. It has research and development center located at Noida that creates quality products and services. The solution is based on education principles that help them to design education systems.
| Company Name | CMP |
|---|---|
| Excelsoft Technologi | 93.95 |
| Aptech | 108.01 |
| NIIT | 70.46 |
| Compucom Software | 14.11 |
| Jetking Infotrain | 119.94 |
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