MT Educare Limited , an education services provider, has disclosed updated financial defaults totaling Rs 32.35 crores in its latest regulatory filing dated December 30, 2025. The company continues to navigate through its Corporate Insolvency Resolution Process (CIRP) under Resolution Professional Arihant Nenawati.

Updated Default Details

The company has reported defaults on both principal and interest payments across various financial obligations to two primary lenders:

The defaults have been ongoing since March 2021, with the latest default date recorded as November 30, 2025.

Outstanding Obligations Breakdown

The company's financial obligations are structured across multiple secured facilities:

Invoked Corporate Guarantees

MT Educare faces additional liabilities from invoked corporate guarantees totaling Rs 24.00 crores:

Insolvency Proceedings Status

MT Educare has been under the Corporate Insolvency Resolution Process since December 16, 2022, following an order from the National Company Law Tribunal (NCLT). Arihant Nenawati was appointed as the new Resolution Professional on January 22, 2024, replacing the previous Interim Resolution Professional Ashwin Bhavanji Shah.

The Committee of Creditors was constituted on August 21, 2023, and the resolution process continues with claims verification ongoing as per public announcements.

Additional Legal Developments

Shamrao Vithal Co-operative Bank Limited had submitted a claim of Rs 49.72 crores on account of corporate guarantee for subsidiary Labh Ventures India Pvt Ltd. However, this claim was rejected as the bank had not invoked the corporate guarantee before the Insolvency Commencement Date. The bank's subsequent appeal to NCLT was dismissed on March 27, 2025, and their appeal to NCLAT remains pending.

MT Educare Limited , currently undergoing Corporate Insolvency Resolution Process (CIRP), has released its unaudited financial results for the first quarter of fiscal year 2026, ending June 30, 2025. The results, approved in a board meeting on August 13, 2025, were published in Financial Express and Pratah Kaal newspapers on August 15, 2025.

Financial Performance

The education services provider reported a total revenue of ₹438.76 lakhs for Q1 FY2026, marking a significant decrease from ₹784.60 lakhs in the corresponding quarter of the previous year. This represents a year-on-year decline of approximately 44.1% in revenue.

The company's net loss after tax narrowed to ₹190.35 lakhs, compared to a loss of ₹358.75 lakhs in Q1 FY2025. This improvement in the bottom line comes despite the reduction in revenue, suggesting potential cost-cutting measures or operational efficiencies implemented during the quarter.

Key Financial Metrics

The improvement in EPS, despite remaining negative, aligns with the reduced net loss for the quarter.

Corporate Insolvency Resolution Process

MT Educare Limited continues to operate under the Corporate Insolvency Resolution Process, which was initiated on December 16, 2022, following an order from the National Company Law Tribunal (NCLT) Mumbai. The process is currently being supervised by Resolution Professional Arihant Nenawati.

Publication and Compliance

In compliance with regulatory requirements, MT Educare Limited published its quarterly results in two newspapers: Financial Express (English) and Pratah Kaal (Marathi). This adherence to publication norms demonstrates the company's commitment to transparency and regulatory compliance, even while undergoing the insolvency process.

The company's ability to narrow its losses in a challenging operating environment, coupled with its adherence to regulatory norms, may be seen as positive indicators by stakeholders. However, the significant drop in revenue highlights the ongoing challenges faced by MT Educare Limited as it navigates through the insolvency process and seeks to stabilize its operations.