MT Educare Limited has informed the Exchange regarding 'Regulation 30 Disclosure defaults on repayment of Principal Amount andInterest-June 2025'.
MTEDUCARE · price
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MT Educare Limited has disclosed defaults on loan repayments to Prudence ARC and Axis Bank, with total outstanding borrowings of ₹32.33 crore. Current default amount includes ₹24.09 crore in principal (₹16.44 crore to Prudence ARC and ₹7.65 crore to Axis Bank) and ₹8.26 crore in interest. Defaults have been ongoing since March 2021, with the latest default date being May 31, 2025. The company is already under Corporate Insolvency Resolution Process (CIRP) since December 16, 2022, as ordered by NCLT Mumbai. Additional invoked corporate guarantees of ₹23.99 crore exist for related entities, and SVC Bank's ₹49.72 crore claim was rejected, with appeal pending at NCLAT.
This disclosure highlights ongoing financial distress, with the company in a prolonged insolvency process since late 2022. Shareholders face significant uncertainty as recovery depends on the CIRP outcome, and the stock remains a high-risk investment with limited near-term prospects of resolution in shareholders' favor.