Question : Proceeding against Online Education Service Providers

(a) whether the Government has received any complaint against fraud done by online education service providers Educomp Solutions Limited and if so, the details thereof;
(b) whether the Government is planning to take action against the Educomp Solutions Limited, if so, the details thereof and if not, the reasons therefor;
(c) whether the Educomp Solutions Limited has defaulted against the loan of around Rs.3000 crores taken by different entities including State Bank of India and if so, the details thereof;
(d) whether any legal action has been taken by the Government against the said erring company, if so, the details thereof and if not, the reasons therefor;
(e) The steps taken/being taken by the Government/RBI to recover outstanding loans from the Educomp Solutions Limited; and
(f) whether a case is pending against the Educomp Solutions Limited in NCLT Delhi and if so, the details thereof?

MINISTER OF STATE FOR LAW AND (SHRI P. P. CHAUDHARY)
JUSTICE AND CORPORATE AFFAIRS


(a) to (e): Yes, Madam. The Government has received complaints against Educomp Solutions Limited and inspection was conducted under section 206(5) of the Companies Act, 2013. Further action in this case is under consideration.

(f): It is submitted that the Company has filed a Petition before the Hon’ble National Company Law Tribunal (NCLT), Principal Bench, New Delhi to initiate Corporate Insolvency Resolution Process (CIRP) under section 10 of the Insolvency & Bankruptcy Code, 2016 and the Hon’ble NCLT vide its order dated 30.05.2017 has admitted the Petition.
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