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MT Educare
BSE: 534312|NSE: MTEDUCARE|ISIN: INE472M01018|SECTOR: Computers - Software - Training
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Company History - MT Educare
Our Company was incorporated as MT Educare Private Limited on August
 19, 2006 at Mumbai as a private limited company under the Companies
 Act. Consequent upon the conversion of our Company to a public
 limited company, the name of our Company was changed to MT Educare
 Limited and a fresh certificate of incorporation dated May 18, 2011
 was issued by the Registrar of Companies, Maharashtra.
 
 Our Company started its business operations in March 2007, by
 providing coaching services to IXth and Xth standard students
 preparing for the examinations conducted under the CBSE curriculum
 and conducting training classes in spoken English for persons working
 with various companies.
 
 From 1988 till 2007, the business of providing coaching services in
 the School Section and Science Section was operated through various
 partnership firms established by our Promoter, Mahesh R. Shetty. The
 business of providing coaching services in the Commerce Section was
 commenced in 2003 and was operated through partnership firms till
 2007. In 2007, the partnership firms providing coaching services in
 the Science Section and School Section were converted into two
 companies under the Companies Act and the business of the
 partnership
 firm which provided coaching services in the Commerce Section was
 taken over by a third company. In March 2009, the three companies
 which operated the business of providing coaching services in the
 School Section, Science Section and the Commerce Section, were
 amalgamated into our Company pursuant to a scheme of amalgamation
 approved by the High Court of Bombay on August 5, 2009. For further
 details of the scheme of amalgamation please see the section History
 and Corporate Structure - Summary of Key Agreements - Key
 Agreements - The scheme of amalgamation amongst our Company, Mahesh
 Tutorials Private Limited, Mahesh Tutorials Science Private Limited
 and Mahesh Tutorials Commerce Private Limited .
 
 Major events of our Company
 
 2007
 
 -Investments by Helix Investments Company by subscription to
 3,28,00,059 Compulsorily
 Convertible Preference Shares for a subscription consideration of a `
 32,80,00,590
 (equivalent of USD 8 million)
 
 -Centres opened in Karnataka
 
 
 2008
 
 -Centres opened in Gujarat and Tamil Nadu
 
 -Acquisition of Scholar.s Learning Centre
 
 2009
 
 -Amalgamation of Mahesh Tutorials Private Limited, Mahesh Tutorials
 Commerce Private
 Limited and Mahesh Tutorials Science Private Limited into our
 Company
 
 -Launch of Technology Aided Teaching methodology
 
 2011
 
 -Acquisition of Chitale.s Personalised Learning Private Limited
 
 -Acquisition of equity shares of MTESPL making MTESPL a wholly owned
 Subsidiary.
 
 2012
 
 -AFAE - Award For Academic Excellence(Pune) 
 
 -AFAE-Award For Academic Excellence(Commerce) 
 
 -AFAE - Award For Academic Excellence(Science)  
 
 2013
 
 - The Company has transferred its pre-school division (comprising of
 6 Company operated centres) along with all its assets & liabilities,
 intellectual property and other rights relating thereto to Tree House
 on a going concern and that the transaction has been concluded.       
                                                     
 
 - MT Educare inaugurates its state of the art Pre-University College
 at Mangalore.
 
 - The Company has entered into Shareholders Agreement with respect to
 acquire 51% stake in Lakshya Forum for Competitions Pvt. Ltd.
 (Lakshya), a leading North India based IIT Entrance teaching
 institute. Further, the Company has informed that Lakshya holds 10 %
 stake in Lakshya Educare Private Limited (subsidiary of MT Educare
 Limited) a Special Purpose Vehicle (SPV) created for the purpose of
 launching JEE advanced coaching services in Mumbai and rest of India.
 MT Educare Ltd. holds 90% stake in this SPV.
 
 - The company has linked a distribution and marketing agreement with
 Chetana Publications Private Limited.
 
 - MT Educare Ltd. - Forbes Asia’s Best Under a Billion company award
 
 2014
 
 - MT Educare partners with Sri Gayatri Educational Society a leading
 educational institution in Andhra Pradesh and Telangana.
Source : Dion Global Solutions Limited
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