Career Point Ltd (CPL) demerging its edu-finance business into separate listedco. This business is majority financed from CPL earnings and has lent onward to promoter entities that have either defaulted or restructured the loans from on-demand repayment to long term loans. (1/2)
Other words: CPL generated lot of cash. Instead of distributing, 'diversified' into financing. By funding its its own promoter entities, who aren't in a mood to return the money. Mechanism to take out CPL funds? Hiving off is kicking the can down the road. @RBI @SEBI_India (2/2)
If you haven't got time to read the screenshots:
(1) 157 crore lent as unsecured loan from CPL to subsidiary
(2) 120 crore lent to promoter entities, restructured, not paid back
(3) 40 crore recognised NPAs of related parties not provisioned.
(1) 157 crore lent as unsecured loan from CPL to subsidiary
(2) 120 crore lent to promoter entities, restructured, not paid back
(3) 40 crore recognised NPAs of related parties not provisioned.
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