Overview
- Manipal Education and Medical Group India said it has filed an Expression of Interest to be listed as a prospective resolution applicant for Think and Learn.
- The group asserted compliance with Section 29A of the Insolvency and Bankruptcy Code and submitted the required affidavits and undertakings.
- It has asked the Resolution Professional for the information memorandum and virtual data room access to evaluate a potential resolution plan.
- Manipal stated it is currently the sole EOI on file, with shortlisting subject to the RP’s verification and the Committee of Creditors’ process.
- RP Shailendra Ajmera has extended the EOI deadline to December 15, and the bid carries added significance given Manipal’s majority stake in Aakash and TLPL’s minority holding after courts allowed TLPL to fund its rights entitlement with a Rs 25 crore deposit.