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Default3 Jul 2026, 04:03 pm

MT Educare Reports ₹32.33 Cr Default on Loans for Q2 2026

AI Summary

MT Educare Ltd has disclosed defaults on loan payments for the quarter ended June 30, 2026. The company reported a total outstanding amount of ₹32.33 crore in loans from banks/financial institutions. The default is attributed to disruptions in the education sector caused by the COVID-19 pandemic and subsequent challenges. The filing also notes invoked corporate guarantees amounting to ₹7.3 crore with Axis Bank Ltd and ₹16.69 crore with Asset Care & Reconstruction Enterprise Limited. The company is undergoing CIRP proceedings, and no changes have occurred in the previously submitted information.

Key Highlights

  • MT Educare reports ₹32.33 Cr outstanding loans as of June 30, 2026.
  • Defaults attributed to COVID-19 pandemic and sector disruptions.
  • Corporate guarantees invoked for ₹7.3 Cr (Axis Bank) and ₹16.69 Cr (ACRE).
  • Company is currently under CIRP proceedings.
View BSE Filing
MTEDUCARE
Education
MT EDUCARE LTD.

Price Impact

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