Penny Stock Below Rs 10: L&T Finance Gains Rs 77,97,406 In A Single Day As This Small-Cap Company Hits 5% Upper Circuit; Do You Hold It?
Sagar DSIJ / 19 Jun 2026 / Categories: Mindshare, Trending
Asset Care & Reconstruction Enterprise and Yes Bank informed the NCLT that they intend to withdraw the insolvency petition against Zee Learn, with the company clarifying that the tribunal has only recorded the lenders’ submission.
On Thursday, Indian equity benchmarks traded mixed, while shares of Zee Learn Ltd remained in focus after the company disclosed an update on the corporate insolvency proceedings pending before the National Company Law Tribunal (NCLT), Mumbai Bench. The stock hit the 5 per cent Upper Circuit at Rs 8.82, extending its rally for a third consecutive session. Trading volume stood at 16.2 lakh shares, significantly higher than the 30-day average volume of 9.2 lakh shares.
Lenders Indicate Intent to Withdraw Insolvency Petition
Zee Learn informed the stock exchanges that it has received an email from the NCLT, Mumbai Bench, enclosing observations from an order dated June 8, 2026, in relation to the corporate insolvency resolution process initiated under Section 7 of the Insolvency and Bankruptcy Code, 2016.
According to the order, Asset Care & ReConstruction Enterprise Limited (ACRE), the successor of JC Flowers Asset Reconstruction, along with Yes Bank Limited, submitted before the tribunal that the lender has decided to withdraw the company petition. The filing further stated that an appropriate application for withdrawal would be filed in this regard.
The company clarified that the tribunal has only recorded the lenders’ submission regarding the proposed withdrawal and that the withdrawal process itself is yet to be completed through the necessary legal application.
Stock Extends Winning Streak
Following the disclosure, Zee Learn shares remained locked in the 5 per cent upper circuit at Rs 8.82. The stock has now hit the upper circuit for three consecutive trading sessions, reflecting renewed investor interest after the update on the insolvency proceedings.
Over the past month, the stock has gained approximately 53 per cent, while it is up around 11 per cent over the last six months and 22.5 per cent on a YTD basis.
L&T Finance holds a 5.68 per cent stake in Zee Learn, equivalent to 1,85,65,253 equity shares. Based on today's increase of Rs 0.42 per share, from Rs 8.40 to Rs 8.82, the value of L&T's holding increased by approximately Rs 77,97,406 during the trading session.
Background of the Insolvency Proceedings
The insolvency proceedings against Zee Learn had been initiated under Section 7 of the Insolvency and Bankruptcy Code, 2016, which allows financial creditors to commence a corporate insolvency resolution process in the event of a payment default.
The latest communication indicates that the lenders intend to discontinue the petition. However, the company has emphasised that the NCLT has merely taken note of the lenders’ submission and that the formal withdrawal application remains to be filed and processed.
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About the Company
Zee Learn Limited operates in the education sector with interests spanning preschool education, K-12 learning and vocational training. The company is known for operating educational brands and partnering with institutions across India through franchise and managed education models.
According to the latest market data, Zee Learn has a market capitalisation of approximately Rs 288 crore.
What are your thoughts on the proposed withdrawal of the insolvency petition against Zee Learn? Share your views in the comments below.
Disclaimer: The article is for informational purposes only and not investment advice.