MT Educare Limited has informed the Exchange regarding 'Regulation 30 Disclosure defaults on repayment of Principal Amount and Interest.'.
MTEDUCARE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
MT Educare Limited has disclosed a debt default under SEBI LODR Regulation 30. The company defaulted on repayment of principal and interest since March 2021, with the formal default date recorded as April 30, 2026. Total outstanding borrowings from banks and financial institutions stand at INR 32.33 crore — comprising term loans and overdrafts from Axis Bank (INR 12.14 crore principal + interest) and Prudence ARC (INR 16.44 crore principal + interest). Additionally, corporate guarantees have been invoked for INR 23.99 crore (Axis Bank for Sri Gayatri Education Society INR 7.3 crore; Prudence ARC for Lakshya Forum for Competitions Pvt Ltd INR 16.69 crore). The company is already under Corporate Insolvency Resolution Process (CIRP) since December 16, 2022, following an NCLT order.
This is a deeply negative development confirming the company is in severe financial distress with accumulated defaults. Shareholders face significant recovery risk given the ongoing CIRP, and the stock is likely to remain under severe pressure with minimal near-term upside.