Default29 Jul 2026, 03:46 pm
MT Educare Defaults on ₹32.33 Cr Bank Loans
AI Summary
MT Educare Limited has disclosed a default on repayment of principal and interest for term loans and overdraft facilities amounting to ₹32.33 crore. The defaults are with lenders including Prudence ARC and Axis Bank, with the current default amount for principal and interest detailed for each. The company is currently undergoing Corporate Insolvency Resolution Process (CIRP) since December 16, 2022. Additionally, corporate guarantees invoked against the company for loans to its subsidiaries are also noted. The disclosure is made pursuant to SEBI (LODR) regulations.
Key Highlights
- MT Educare defaults on ₹32.33 Cr in principal and interest payments.
- Lenders include Prudence ARC and Axis Bank.
- Company is under Corporate Insolvency Resolution Process since Dec 2022.
- Defaults relate to term loans, overdrafts, and corporate guarantees.
- Disclosure made as per SEBI (LODR) regulations.
Price Impact
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