31-Aug-2026 16:51:36
MTEDUCAREGeneral news
MT EDUCARE LIMITED: DISCLOSURE DEFAULTS ON REPAYMENT OF PRINCIPAL AND INTEREST
• Company has defaulted in repayment of principal and interest on loans from banks and financial institutions. • Defaults are in relation to loans from Prudence ARC and Axis Bank. • Total outstanding borrowings from banks/financial institutions is ₹32.33 Cr. • Current default amount (Principal + Interest) includes ₹16.44 Cr from Prudence ARC and ₹7.65 Cr from Axis Bank (Term Loan) and ₹4.98 Cr (OD). • Prudence ARC loan outstanding is ₹20.19 Cr. • Company is under Corporate Insolvency Resolution Process since 16.12.2022. • Invoked Corporate Guarantees against the company include ₹7.3 Cr from Axis Bank Ltd. and ₹16.69 Cr from Prudence ARC.
MT Educare Limited
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