India, July 17 -- Thousands of students and parents have been left scrambling after the well-known coaching institute Mahesh Tutorials abruptly shut at least 33 centres across Maharashtra last week, despite having already completed admissions and collected fees for the current academic year.

The closure has affected around 2,500 students in Classes 10 and 12, along with hundreds of CBSE and ICSE students, as well as several teachers and non-teaching staff.

The shutdown has renewed focus on the financial troubles of the coaching chain's parent company, MT Educare Ltd, which has been undergoing the Corporate Insolvency Resolution Process (CIRP) since December 2022 after an order by the National Company Law Tribunal (NCLT).

The company's ...