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SC rejects Ebix's plea to withdraw Rs.400-Cr offer for Educomp

Economic Times  

The Supreme Court has rejected Ebix's plea to withdraw its Rs. 400 crore offer for Educomp Solutions Limited. In its ruling, the Supreme Court stated it did not find merit in Ebix's arguments that the resolution professional (RP) of Educomp, Mahender Khandelwal, had failed to disclose information about investigations into the company by law enforcement agencies. Ebix has claimed that the RP withheld information about such investigations from it and has cited the investigations as one of the reasons for withdrawing its offer for the company.