MT Educare Limited has announced that its board will meet on Thursday, May 28, 2026, to consider and approve the audited financial results for the fourth quarter and the financial year ended March 31, 2026. The meeting will be conducted by the Resolution Professional of the company, which is currently undergoing the Corporate Insolvency Resolution Process (CIRP).

Financial Results Agenda

The primary agenda of the meeting is to review and take on record the standalone and consolidated financial results for the specified periods. This disclosure is made in compliance with Regulation 29(1)(a) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Trading Window Closure

The company had previously intimated that the trading window for dealing in its securities closed on April 1, 2026. This window will remain shut until 48 hours after the declaration of the financial results scheduled for the upcoming board meeting.

Corporate Insolvency Status

mt educare is currently under the CIRP as per an order dated December 16, 2022, from the National Company Law Tribunal (NCLT), Mumbai. The process was initiated under the Insolvency and Bankruptcy Code, 2016. Mr. Arihant Nenawati serves as the current Resolution Professional, having been appointed by the NCLT on January 22, 2024.

The company operates under the supervision of the Committee of Creditors, which was constituted on August 21, 2023. Shareholders and market participants are advised to take note of the upcoming meeting and the subsequent reopening of the trading window.

MT Educare Limited has disclosed defaults on repayment of principal and interest amounts to its lenders, including Prudence ARC and Axis Bank, pursuant to Regulation 30 of SEBI (LODR), 2015. The disclosure, dated April 29, 2026, reveals that the company has been in default since March 30, 2026, with ongoing issues dating back to March 2021. The total outstanding borrowings from banks and financial institutions amount to ₹32.33 crore.

Default Breakdown

The company's defaults are spread across multiple lending facilities with two primary lenders. The current default amounts include both principal and interest components:

The obligations include term loans, overdraft facilities, and corporate guarantees. The secured loans carry varying interest rates ranging from 11.20% to 13.75%, with tenures of 2 years.

Loan Obligation Details

The company provided detailed information about its outstanding obligations:

Corporate Insolvency Status

MT Educare Limited has been under the Corporate Insolvency Resolution Process (CIRP) since December 16, 2022, as per the order of the Honorable National Company Law Tribunal, Mumbai. The claims from secured financial creditors are being verified as per public announcements. Mr. Arihant Nenawati currently serves as the Resolution Professional for the company, having been appointed on January 22, 2024, replacing the previous Interim Resolution Professional Mr. Ashwin Bhavanji Shah.

Invoked Corporate Guarantees

In addition to direct borrowings, the company has invoked corporate guarantees against two entities:

Additional Claims and Legal Proceedings

The company noted that Shamrao Vithal Co-op Bank Ltd had submitted a claim of ₹49.72 crore regarding a corporate guarantee for its subsidiary Labh Ventures India Pvt Ltd. However, this claim was rejected as the guarantee was not invoked before the Insolvency Commencement Date of December 16, 2022. The bank's appeal before the National Company Law Appellate Tribunal is currently pending following dismissal by NCLT Mumbai on March 27, 2025.

The loans from Prudence ARC were previously held by Assets Care & Reconstruction Enterprises Limited and were reassigned to Prudent ARC Limited through a deed of assignment dated August 11, 2023.