Announced Mon, 29 Jun · 17:20 IST
MT Educare defaults on 32.33 crore loan repayment to Axis Bank and Prudence ARC
MTEDUCARE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-3.7%1-day move
₹2.41
prior close
₹2.49
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-3.6———-3.7-8.3-12.9-17.0-21.2-21.6-22.0———
Up moveDown movePending
AI summary
MT Educare has defaulted on loan repayment to Axis Bank (principal 7.65 cr, interest 4.51 cr) and Prudence ARC (principal 16.44 cr, interest 3.75 cr). Defaults date back to March 2021. Total outstanding borrowings stand at 32.33 cr. The company is already under Corporate Insolvency Resolution Process since December 2022, with a Resolution Professional now in place. Corporate guarantees worth about 24 cr have also been invoked against two subsidiaries.
Likely market impact
Negative - ongoing financial distress; equity holders face potential wipeout or dilution under the insolvency process already underway.