Educomp Solutions Ltd

NCLT Order on Educomp Solutions

• NCLT New Delhi passed order on March 13, 2026, regarding Educomp Solutions.
• Issue: Non-implementation of resolution plan approved by NCLT.
• Section 74(3) IBC invoked: Punishment includes 1-5 years imprisonment or fine ₹1 lakh to ₹1 crore.
• Section 31(1) IBC: Approved resolution plan binding on all stakeholders including SRA.
• SRA failed to implement resolution plan; matter referred to IBBI under Section 236(2) IBC.
• Consortium of lenders holding 63% voting share resolved to initiate fresh resolution process.
• Fresh resolution process to be completed within 100 days from March 13, 2026.
• Order clarifies SRA remains liable for failure to implement prior plan.
• CoC to decide on replacement of Resolution Professional per Sections 22 and 27 IBC.
• Pending compliances and dues to statutory bodies must be completed immediately.
• Demat accounts to be defrozen after compliance and payment of dues.
• Several related applications disposed of as infructuous or per main order.

🗓️ AGM Details

• AGM held on March 10, 2026, from 11:30 AM to 12:30 PM IST via Video Conference/OAVM.
• Remote e-voting conducted from March 7 to 9, 2026; cut-off date for voting was March 4, 2026.

📍 Key Resolutions and Voting Results

• Audited financial statements for FY 2024-25 adopted with 99.9958% votes in favor.
• Appointment of M/s GDR & Associates LLP as Statutory Auditors approved with 99.9958% votes.
• Appointment of Secretarial Auditor for five years approved with 99.9958% votes.
• All resolutions passed with over 99.99% approval; negligible opposition (~0.0042%).

👔 Auditor Appointments

• M/s GDR & Associates LLP appointed as Statutory Auditor (Firm Reg. No. 15088N).
• Secretarial Auditor appointed for a five-year term.

⚠️ Corporate Governance and Legal Status

• Company under Corporate Insolvency Resolution Process since May 2017.
• NCLT approved resolution plan on October 9, 2023; implementation pending and challenged.
• NCLT appointed Resolution Professional as caretaker since November 23, 2023.

Meeting Details ️

• 31st Annual General Meeting held on March 10, 2026 via Video Conference.

Financial Approvals

• Audited financial statements for FY 2024-25, including consolidated statements, were adopted.

Auditor Appointments

• M/s. GDR & Associates LLP appointed as Statutory Auditors.
• Appointment of Secretarial Auditor for five consecutive years approved as special business.

Other Governance Updates

• NCLT approved the resolution plan on October 9, 2023; implementation pending.

🗓️ AGM Details

• The 31st AGM is scheduled for 10 March 2026 at 11:30 AM via Video Conferencing/Other Audio-Visual Means.
• Remote e-voting opens on 7 March 2026 at 9:00 AM and closes on 9 March 2026 at 5:00 PM.
• The cut-off date for voting eligibility is 4 March 2026.

⚖️ Corporate Insolvency and Governance

• The company is under Corporate Insolvency Resolution Process (CIRP) since May 2017 as per NCLT orders.
• The Board’s powers are suspended; management is under the Resolution Professional appointed by NCLT.
• The resolution plan was approved by NCLT on 9 October 2023 but is yet to be implemented.
• The Resolution Professional acts as caretaker of the company as per NCLT order dated 23 November 2023.
• Contempt proceedings are ongoing against the successful resolution applicant and its directors.