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.

MT Educare Limited has filed its Structured Digital Database (SDD) compliance certificate for the quarter ended March 31, 2026, with the BSE and National Stock Exchange of India. The submission fulfills regulatory requirements under SEBI's Prohibition of Insider Trading Regulations 2015.

Compliance Certificate Details

The compliance certificate was prepared by Shravan Gupta, a practicing company secretary from Shravan A. Gupta & Associates, and confirms the company's adherence to structured digital database requirements. The certificate validates several key compliance parameters:

Event Capture and Reporting

During the quarter ended March 31, 2026, MT Educare Limited was required to capture one event in its structured digital database. The company successfully captured this single required event, demonstrating full compliance with SEBI's insider trading regulations.

The certificate specifically states that no non-compliance issues were observed during the previous quarter, with the compliance status marked as "NOT APPLICABLE" for any remedial actions.

Corporate Insolvency Resolution Process Status

The submission was made by Resolution Professional Arihant Nenawati, who has been overseeing the company's affairs since January 22, 2024. MT Educare Limited continues to operate under the Corporate Insolvency Resolution Process (CIRP) initiated on December 16, 2022, following an order from the National Company Law Tribunal, Mumbai.

Regulatory Framework

The Structured Digital Database compliance certificate addresses provisions under Regulation 3(5) and 3(6) of SEBI's Prohibition of Insider Trading Regulations 2015. These regulations mandate listed companies to maintain comprehensive digital records of unpublished price sensitive information (UPSI) dissemination to ensure transparency and prevent insider trading activities.

The certificate was dated April 8, 2026, and submitted to both stock exchanges where MT Educare Limited shares are listed, maintaining the company's regulatory compliance despite its ongoing insolvency resolution proceedings.