Zee Learn Friday informed the exchanges that they have called off their proposed merger with Treehouse Education.
Following Tree House playgroup downing the shutters on 113 branches across India, the company has come under a spotlight. It has claimed that it hasn't been able to pay staff salaries leading to the shutting of branches.
Former Executive Director of Securities and Exchange Board of India (SEBI) JN Gupta says that there is something wrong with the company. The period of losses -- when the entire fraud process started -- is not clear. Though, the company says that auditors are looking at accounts, it has not been opening balances prior to April 2015.
Zee Learn recently informed exchanges that a proposed merger with Tree House has been put on hold.
In an interview to CNBC-TV18, Bhatia says the company is doing fine operationally, and the fall in stock price does not indiacte any fundamental problems. The Treehouse stock is down 46 percent over the last one month
Rajesh Bhatia, MD of Tree House Education & Accessories clarifies that of Rs 43 crore receivables, Rs 35 crore of outstanding cash will be paid over next three years.
In an interview to CNBC-TV18, Rajesh Bhatia, managing director, Tree House Education and Accessories gives the details of the stakes held by Aditya Birla Private Equity Fund and ON Mauritius after the preferential allotment.
In an interview to CNBC-TV18, Rajesh Bhatia, managing director, Tree House Education said,"We are seeing pretty good traction both in terms of student enrolments for December half and new admissions are also coming in for June. We are also seeing good amount of traction in new centres in the fit out phase."
Rajesh Bhatia, managing director of Tree House Education, in an interview to CNBC-TV18, gave his view on how the company will perform going forward.