Mahesh Tutorials shuts 33 coaching centres in Maharashtra; 2,500 students affected

Mahesh Tutorials has abruptly shut 33 coaching centres across Maharashtra, affecting around 2,500 students after admissions and fee collection for the academic year. The closure comes amid the long-running insolvency proceedings of parent company MT Educare, leaving students, parents and staff facing uncertainty over classes, fees and salaries.Mahesh Tutorials has abruptly shut 33 coaching centres across Maharashtra, affecting around 2,500 students after admissions and fee collection for the academic year.Mahesh Tutorials students and parents in Maharashtra got a shock this week after 33 coaching centres shut abruptly, leaving around 2,500 students scrambling mid-academic year.The closure comes after admissions for the 2026-27 academic year had reportedly been completed and fees collected from parents.The coaching chain, operated by MT Educare, decided to suspend operations from July 10 after an internal meeting with branch heads on July 7, according to reports. The closure has also affected teachers and non-teaching staff.A COACHING CHAIN ALREADY IN INSOLVENCYThe timing has raised questions because MT Educare has been undergoing the Corporate Insolvency Resolution Process since December 2022 after a National Company Law Tribunal (NCLT) order. The company's latest available audit report reportedly showed mounting losses and financial stress, with outstanding dues of around Rs 74.29 crore. In 2024, NCLT also admitted personal insolvency proceedings against promoter Mahesh Shetty over a default linked to loans for which he was a personal guarantor.Parents are now seeking clarity on fees and the future of students. Reports say some are demanding fee audits and pro-rata refunds.ARIHANT STEPS IN, BUT DENIES TAKEOVER Arihant Academy has said it is accommodating eligible affected students on humanitarian grounds.The academy has also denied any corporate takeover, merger or purchase of MT Educare.For students who had already planned their academic year around Mahesh Tutorials, the sudden closure has now turned a regular coaching decision into a scramble to find classes, teachers and clarity on money already paid.- EndsPublished On: Jul 17, 2026 11:07 IST