Veranda Learning Solutions Approves Composite Scheme of Arrangement, NCLT Directs Shareholder Meetings

Veranda Learning Solutions Limited has approved a Composite Scheme of Arrangement among Veranda Learning Solutions Limited, Veranda XL Learning Private Limited, and J.K. Shah Commerce Education Limited. The Hon’ble NCLT, Chennai Bench, has directed the convening of a meeting of the Equity Shareholders of VLS to consider and approve the proposed Scheme. The NCLT has also dispensed with the requirement to convene and hold meetings of the Secured Creditors, Unsecured Creditors, warrant holders, and Equity Shareholders of VXLS and JSCEL. The Scheme is subject to applicable regulatory and other approvals.