)
IL&FS gets creditors' approval for sale of education business to Career Point Publications
FirstpostNew Delhi: 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 percent of IL&FS’s creditors, in terms of value, through an e-voting process that concluded on 5 November. The latter has 80 percent stake in IL&FS Skill Development Corporation and also has two subsidiaries – IL&FS Cluster Development Initiative and Skill Training Assessment Management Partners. Further, CPPPL has also made a binding offer to purchase the businesses, including certain business debt of the two subsidiaries of SIL – ICDI and STAMP for an additional consideration.
History of this topic
)
IL&FS Concludes Stake Sale in Education Biz; Cuts Consolidated Debt by Over Rs 650 Crore
News 18
Creditors approve sale of IL&FS’ education biz to Career Point
Live Mint
IL&FS gets creditors’ approval for sale of education business
Live MintDiscover Related
![IBC Weekly Round-Up [18th November To 24th November 2024]](https://www.livelaw.in/h-upload/2024/08/01/552807-weekly-digest-of-ibc-cases.jpg)
![Plea Challenging The Choice Based Credit System For School Of Open Learning, Delhi HC Directs Delhi University To File Affidavit [Read Order]](https://www.livelaw.in/h-upload/2020/07/08/377929-admission-for-five-year-integrated-law-courses-based-on-clat-ug-2023-score-ugc-in-favour-of-delhi-universitys-decision.jpg)
)
)
)
