MT Educare Limited
Updates
01 / The disclosure
What the company shared
MT Educare Limited has informed the Exchange regarding 'Disclosure on defaults on payment-Qly September 2026'.
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Check the authority, amount, company response and appeal status. A notice and a final liability are different stages.
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Rs. 49.72 crorePage 2
2) Shamrao Vithal Co-op Bank Ltd (SVC) has submitted claim of Rs. 49.72 crore on account of corporate guarantee issued by corporate debtor for its subsidiary Labh Ventures India Pvt Ltd. However, SVC Bank Ltd has not invoked corporate guarantee till Insolvency Commencement Date i.e 16-12-2022, therefore, claim of SVC Bank Ltd. Has been rejected, however the said Bank had filed an IA before the Hon’ble NCLT, Mumbai which were dismissed by the said Bench vide Order dated 27 th March, 2025, however the Bank had filed appeal against the Order in Hon’ble NCLAT and the decision on the same is still pending.
View source pageThe evidence
Read the source excerpts
01Disclosure specified in the table below shall be made by listed entities, if on the last date of any quarter (details are as on 30.09.2026)
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02Name of Lender Name of Primary Borrower Amount (INR in Crores) Secured/ unsecured Axis Bank Ltd Sri Gayatri Education Society 7.3 Secured Asset Care & Reconstruction Enterprise Limited Lakshya Forum for Competitions Private Limited 16.69 Secured
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032) Shamrao Vithal Co-op Bank Ltd (SVC) has submitted claim of Rs. 49.72 crore on account of corporate guarantee issued by corporate debtor for its subsidiary Labh Ventures India Pvt Ltd. However, SVC Bank Ltd has not invoked corporate guarantee till Insolvency Commencement Date i.e 16-12-2022, therefore, claim of SVC Bank Ltd. Has been rejected, however the said Bank had filed an IA before the Hon’ble NCLT, Mumbai which were dismissed by the said Bench vide Order dated 27 th March, 2025, however the Bank had filed appeal against the Order in Hon’ble NCLAT and the decision on the same is still pending.
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04Note: Pursuant to the Order dated 16th December, 2022 of the Hon’ble National Company Law Tribunal, Mumbai (“NCLT Order”), Corporate Insolvency Resolution Process (“CIR Process”) has been initiated against the Company in accordance with the provisions of the Insolvency and Bankruptcy Code, 2016, (“Code”) and related rules and regulations issued thereunder with effect from 16th December, 2022 (Corporate Insolvency Resolution Process Commencement Date).
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05Mr. Ashwin Bhavanji Shah has been appointed as Interim Resolution Professional (“IRP”) in terms of the NCLT Order, IRP has constituted Committee of Creditors on 21-08-2023.
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Source & verificationView the disclosure trail
- Summary method
- Exchange-provided text; no generated financial figures
- Exchange identifier
- 106807321
- First collected
- 5 Oct 2026, 22:51 IST
- PDF extraction
- extracted · 2 pages read
- Extraction note
- Source excerpts; financial tables have not been validated.
- Document SHA-256
- 9f85b6d5327fa080bf863b23c8ff479f37a720b4e7da951e27249ea43626edfb