Cancellation of deal to impact Everonn

The stock of Everonn Education will come under pressure this week as the agreement between National Skill Development Corporation of India (NSDC) and its 100 per cent subsidiary – Everonn Skill Development Ltd (ESDL) – lapsed. However, Everonn Education informed the exchanges that “ESDL is in dialogue with NSDC to resolve the issue.” Under the deal signed in April 2011, NSDC was supposed to give Rs 101crore as loan to ESDL in return for a 27 per cent equity stake