Chennai-based educational technology firm Veranda Learning Solutions has announced that its equity shareholders have approved the Composite Scheme of Arrangement for the demerger of its commerce vertical into JK Shah Commerce Education
At a meeting convened pursuant to the directions of the National Company Law Tribunal (NCLT), a resolution was passed with the requisite statutory majority, the company said in a statement.
Veranda Learning Solutions has in September of last year announced plans to demerge its commerce vertical as an independent, focused entity with the aim of simplifying the group structure, sharpening strategic focus across verticals and unlocking long-term value for shareholders.
“This is a key step in our strategy to build focused, high-growth education businesses. By creating an independent commerce entity, we are enabling sharper execution, greater agility and sustained value creation for our shareholders,” said Suresh Kalpathi, Chairman & Executive Director, Veranda Learning Solutions.
With shareholder approval now secured, the scheme will proceed to the next stage of regulatory approvals, including final sanction from the NCLT and other applicable authorities.