Announced Mon, 31 Aug · 16:39 IST
MT Educare discloses loan defaults to Prudence ARC and Axis Bank
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
-3.9%1-day move
₹1.78
prior close
₹1.85
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+0.0+0.0+0.0+0.5-3.9-5.1-0.6+3.9+5.6+4.5————
Up moveDown movePending
AI summary
MT Educare, under CIRP since Dec 2022, disclosed defaults on loans from Prudence ARC (principal INR 16.44 Cr, interest INR 3.75 Cr) and Axis Bank (principal INR 7.65 Cr, interest INR 4.51 Cr). Defaults ongoing since March 2021. Total outstanding borrowings INR 32.33 Cr. Invoked corporate guarantees of INR 23.99 Cr against two group entities. SVC Bank claim of INR 49.72 Cr rejected; appeal pending at NCLAT.
Likely market impact
Continued defaults confirm serious financial distress; CIRP resolution still pending, leaving shareholders exposed to potential loss of value.