Default29 May 2026, 03:01 pm
MT Educare Defaults on ₹32.33 Cr Loan Repayments
AI Summary
MT Educare Ltd has disclosed defaults in repayment of principal and interest amounts to Prudence ARC and Axis Bank, totaling ₹32.33 crore. The defaults, ongoing since March 2021, include term loans, overdrafts, and corporate guarantees. As of May 29, 2026, the outstanding amount includes ₹16.44 crore principal and ₹3.75 crore interest to Prudence ARC, and ₹7.65 crore principal and ₹4.51 crore interest to Axis Bank. The company is currently undergoing Corporate Insolvency Resolution Process since December 16, 2022.
Key Highlights
- MT Educare defaulted on loan repayments to Prudence ARC and Axis Bank.
- The total default amount is ₹32.33 crore, including principal and interest.
- Defaults have been ongoing since March 2021.
- The company is under Corporate Insolvency Resolution Process since December 2022.
- Outstanding borrowings from banks/financial institutions total ₹32.33 crore.
Price Impact
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