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MT Educare owes Rs 32.33 crore to banks including Axis Bank and Prudence ARC
30-Sep-2026, 06:14
MT Educare Limited disclosed a default on repayment of principal and interest to banks and financial institutions, including Prudence ARC and Axis Bank, as of September 30, 2026. The total amount of outstanding borrowings is Rs 32.33 crore, comprising Rs 16.44 crore from Prudence ARC, Rs 7.65 crore from Axis Bank, and includes corporate guarantees of Rs 7.3 crore to Axis Bank and Rs 16.69 crore to Prudence ARC. The company is currently under Corporate Insolvency Resolution Process since December 16, 2022, following an order from the National Company Law Tribunal.