MT Educare Limited announced the delay in the payment of Interest/Repayment of Principal was continuing since COVID-19 pandemic during Lockdown, Further, The Company had already commenced servicing interest from September 2021 onwards till Commencement of CIRP i.e 16th December, 2022 for the Loan availed from Axis Bank Limited, however, Loan availed from Xander Finance Private Limited were assigned by lender to Asset
Care & Reconstruction Enterprise Limited (ACRE) vide agreement dated August 28, 2021. Total financial indebtedness of the listed entity including short-term and long-term debt of INR 32.33 crore.