MT Educare Discloses ₹32.33 Cr Loan Default

MT Educare Ltd (In CIRP) discloses default on principal and interest to Prudence ARC and Axis Bank under SEBI LODR Regulation 30.
Total outstanding borrowings stand at ₹32.33 crore; defaults on principal and interest ongoing since March 2021.
Company has been under Corporate Insolvency Resolution Process since 16 December 2022 per NCLT Mumbai order.
Invoked corporate guarantees totalling ₹24 crore and a disputed SVC Bank claim of ₹49.72 crore remain under NCLAT adjudication.