30-Oct-2026 13:25:19
MTEDUCAREGeneral news
MT EDUCARE : DISCLOSES DEFAULT ON LOAN DUES WORTH RS 3.75 CR
• Default on term loan, overdraft and corporate guarantee obligations; date of default 30/09/2026, continuing since March 2021 • Prudence ARC principal ₹16.44 Cr plus interest ₹3.75 Cr; Axis Bank principal ₹7.65 Cr plus interest ₹4.51 Cr • Total outstanding borrowings from banks and financial institutions at ₹32.33 Cr • Invoked corporate guarantees: Axis Bank ₹7.3 Cr (Sri Gayatri Education Society) and Prudence ARC ₹16.69 Cr (Lakshya Forum for Competitions) • Company remains under corporate insolvency resolution process since 16.12.2022 per NCLT order
MT Educare Ltd
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