Zee Learn is deep in the red after Yes Bank filed a plea to initiate insolvency proceedings against the company.
YES Bank has claimed that the total amount in default with respect to the financial facility is Rs.468 crore.
Zee Learn has said that it is compiling information to verify the facts claimed in the said petition filed by YES Bank.
Yes Bank as such is working on recovering dues from other Essel Group promoted entities including Dish TV. While Yes Bank says the amount due is Rs.5270 crore, Subhash Chandra had said Essel group owes Rs.4,200 crore to the bank.
The stock opened 7% lower at Rs.12.80 and went down to Rs.11.20, just a tad away from its 20% LC of the day at Rs.11.17. Its 52-week low is at Rs.9.90. Volumes are up over 12-times.