Career Point has received approval for its bid for Infrastructure Leasing and Financing Services (IL&FS) group’s education business by the Committee of Creditors (CoC). Under this bid, Career Point has proposed to acquire the majority stake of IL&FS group in Schoolnet India - SIL (erstwhile IL&FS Education & Technology Services - IETS) and 80% ownership in IL&FS Skill Development Corporation (ISDC) held by SIL.
The Board of IL&FS approved the sale in its meeting held on November 07, 2019. The transaction will now be subject to the approval of National Company Law Tribunal (NCLT), Mumbai Bench, in line with the Resolution Framework.
Career Point caters to the needs of a student throughout the life cycle of a student (KG. to PhD.), while operating in both the Formal and Informal education streams. In the informal Education system, the company has established a strong niche in test preparation and school curriculum tutoring.
