Cash-strapped IL&FS Group on Wednesday said it has completed sale of its 73.69 per cent stake in education business, held under Schoolnet India Ltd, to Falafal Technologies. Falafal Technologies Pvt Ltd has paid Rs 7.37 crore as equity value for shares of SIL held by IL&FS Ltd and IL&FS Employee Welfare Trust, in addition to taking over SIL's fund based …
IL&FS Group on Tuesday said it has received approval from creditors for sale of education business to Career Point Publications Pvt Ltd. Schoolnet India Ltd would be sold to CPPPL. According to a release, CPPPL's financial bid was approved by more than 78% of IL&FS's creditors, in terms of value, through an e-voting process that concluded on 5 November. The …
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