MT Educare reports loan defaults; INR 32.33 cr outstanding under CIRP
MTEDUCARE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
MT Educare disclosed defaults on loan repayments as of 30 June 2026. Total outstanding bank debt stands at INR 32.33 crores, now held by Prudent ARC Limited (reassigned from Assets Care in August 2023). The company is already under Corporate Insolvency Resolution Process since December 2022, with Arihant Nenawati as Resolution Professional. Defaults started from COVID-19 disruptions in education. Additional invoked corporate guarantees: Axis Bank INR 7.3 cr for Sri Gayatri Education Society and Asset Care INR 16.69 cr for Lakshya Forum. SVC Bank's INR 49.72 cr guarantee claim was rejected by NCLT; appeal pending at NCLAT.
Equity holders face near-total loss risk as insolvency resolution continues with mounting defaults and invoked third-party guarantees against the company.