NIIT has approved the proposal of voluntary liquidation of its wholly-owned subsidiaries NIIT Institute of Process Excellence (NIPE) and NIIT Yuva Jyoti (NYJL). The Board of Directors of NYJL and NIPE, respectively have recommended the voluntary liquidation of the respective company in accordance with the applicable laws.
NIPE and NYJL will transfer their business, contractual obligations and all assets and liabilities to NIIT in order to simplify operations, rationalise low return, high risk and capital intensive business and create space for growth. Further NYJL and NIPE shall be closed to conserve the management and administrative costs, as per appropriate legal process.
NIIT is a leading Skills and Talent Development Corporation that is building a manpower pool for global industry requirements.
