Date: August 14, 2026

Corporate Insolvency Resolution Process (CIRP) Status

MT Educare Limited is undergoing Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016. The CIRP was initiated by the National Company Law Tribunal, Mumbai Bench vide order dated December 16, 2022. Mr. Ashwin Bhavanji Shah was initially appointed as Interim Resolution Professional. The Committee of Creditors was constituted on August 21, 2023. Subsequently, pursuant to NCLT order on application filed by Prudent ARC, Mr. Arihant Nenawati was appointed as Resolution Professional with effect from January 22, 2024. The powers of the Board of Directors stand suspended and are exercised by the Resolution Professional during CIRP.

Financial Results Delay

The Company faces significant constraints in its finance and accounting functions due to substantial employee attrition and limitation in availability of personnel familiar with financial records and processes. The process of collation, verification and finalization of financial information and records, including submission to and review by Statutory Auditors, is yet to be completed. Accordingly, the Limited Review of financial results for the quarter ended June 30, 2026 has not been completed, and financial results are not presently in a position to be finalized and submitted to Stock Exchanges. The Company under Resolution Professional supervision is taking necessary steps to facilitate completion of these processes.

Resolution Professional Approvals on August 14, 2026

The Resolution Professional, Mr. Arihant Nenawati, approved the following matters on August 14, 2026:

  • Directors Responsibility Statement for year ended March 31, 2026, Directors' Report, Corporate Governance Report, reports/certificates forming part of Directors report, Stakeholders Information, and took note of Secretarial Audit report along with Secretarial Audit report of Material Subsidiary Company for FY 2025-26 ended March 31, 2026
  • Notice for convening 20th Annual General Meeting on Tuesday, September 22, 2026 through Video Conferencing/Other Audio Visual Means
  • Re-appointment of Mr. Vipin Choudhary (DIN: 02090149), Non-Executive Director who retires by rotation at ensuing AGM and being eligible offered himself for reappointment
  • Appointment of Scrutinizer for the 20th Annual General Meeting to be held on September 22, 2026
  • Closure of register of members & share transfer Books from Wednesday, September 16, 2026 to Tuesday, September 22, 2026 (both days inclusive) for the 20th AGM

KMP / Board Changes

Mr. Vipin Choudhary (DIN: 02090149), Non-Executive Director, retires by rotation at the 20th Annual General Meeting scheduled for September 22, 2026, and being eligible has offered himself for re-appointment. He has affirmed not being debarred from holding director office by any SEBI order or authority.

Brief Profile: Vipin Choudhary is a commerce graduate from Chennai University who worked for mobile handset companies like Sony Ericson and Spice during early career in Amritsar, Punjab. He was instrumental in launch of first Indian themed Poker site www.maharajahclub.com. He joined Essel group in 2008 as GM-Operations of Essel Group's offshore casino brand Maharajah Casino in Goa, handling Sales & Government Relations of Essel Group's Online Lottery brand Playwin. As head of Operations at Jalesh Cruises, he handled Port, Marine Supply & technical operations for India's first International Cruise liner starting from Mumbai in April 2019.

Mr. Vipin Choudhary is not related to any Director on the Board of the Company.

Corporate Governance and Compliance

No Board of Directors meeting is being convened due to suspended Board powers during CIRP. The Resolution Professional exercises all management functions in accordance with Insolvency and Bankruptcy Code provisions. The Company is making reasonable efforts to ensure timely compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Dividend Declaration

Not Specified

Financial Results

Not available due to delay in finalization process for quarter ended June 30, 2026

Disinvestment / Strategic Actions

Not Specified

Other Operational / Legal Disclosures

Reference made to previous disclosure dated July 17, 2026 regarding material operational developments