MT Educare Limited has informed the Exchange regarding 'Disclosure on defaults on payment of Interest/repayment of principal amount onloans from banks/financial institutions and unlisted debt securities under SEBI CircularNo. SEBI/HO/CFD/CMD1/CIR/P/2019/140 dated November 21st, 2019-30th June, 2025'.
MTEDUCARE · price
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MT Educare, which has been under Corporate Insolvency Resolution Process (CIRP) since December 2022, has filed a SEBI-mandated disclosure on loan defaults. Total outstanding debt from banks/financial institutions stands at Rs 32.33 crore, with the loans previously assigned from Assets Care & Reconstruction Enterprises to Prudent ARC Limited in August 2023. The company has also disclosed invoked corporate guarantees worth about Rs 24 crore — Rs 7.3 crore for Sri Gayatri Education Society (Axis Bank) and Rs 16.69 crore for Lakshya Forum for Competitions (Asset Care). An additional claim of Rs 49.72 crore from Shamrao Vithal Co-op Bank is pending NCLT decision. The company blames COVID-19 disruption and subsequent operational challenges for the payment delays.
This filing confirms that MT Educare remains in deep financial distress with unresolved debt obligations even while in CIRP. Existing shareholders face near-total risk of dilution or wipe-out as the insolvency process advances, and the stock is highly speculative given ongoing creditor claims and unresolved corporate guarantee invocations.