EDUCOMP SOLUTIONS LTD. - 532696 - Educomp Solutions Ltd reply to clarification sought by the exchange
The Exchange had sought clarification from Educomp Solutions Ltd with reference to the media report, "CBI books Educomp Solutions directors for 1,955 cr bank fraud".Educomp Solutions Ltd / Resolution Professional has submitted the response as follows:- This is with reference to your mail dated February 12, 2020, related to news appeared in the "The Hindu BusinessLine" captioned "CBI books Educomp, officials in Rs. 1,955 Crore bank fraud case". As regards allegation in the Media Report w.r.t. "CBI books Educomp, officials Rs. 1,955-crore bank fraud case", we would like to clarify that CBI has conducted a search at the premises of office of Educomp Solutions Limited at Educomp Towers, 514, Udyog Vihar, Phase-III, Gurgaon and other locations of the Corporate Debtor and its directors on February 11, 2020. No further communication has been received by the undersigned subsequent to the Search proceedings. As regards the allegations in the Media Report "The borrowing company and its directors, guarantors and unknown others conspired and committed the act of forgery, including valuable securities, used forged documents as genuine, diverted and siphoned off the banks' funds and cheated the lending banks to the tune of Rs. 1955.36 crore, please note that the above-stated observations do not pertain to the undersigned being RP and hence the undersigned being RP has no comments on the same. You are kindly requested to take the above submission on record and oblige.Mahender Kumar KhandelwalResolution Professional in the matter of Educomp Solutions Limited