News · Education & Skilling

Resonance faces debt crisis and payment halts

By Startup Enthusiast · 6 February 2026

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Lenders obtained a court stay freezing expense accounts after debt repayment failure

BESPL halted salary and disbursement payments until 11 Feb 2026 per an internal note

Revenue dropped significantly from peak enrolments of over 80,000 to about 1,000 at Kota centre

Lenders obtained a court stay to freeze Resonance Group's expense accounts.
The action followed the company's failure to repay its accumulated debt.
BESPL halted salary and disbursement processing until February 11, 2026.
An internal note dated February 3 confirmed the payment suspension.
The company raised approximately Rs 800 crore from banks and NBFCs.
Funds were intended for expansion but strained cash flows via real estate.
Current enrolments have fallen to around 1,000 at the Kota centre.
Peak annual enrolments exceeded 80,000 during the period eight to ten years ago.

Real estate investments consumed significant portions of the raised capital.
Debt repayment failure triggered immediate legal intervention by financial creditors.
The situation highlights risks in aggressive diversification within the education sector.

Resonance operates through subsidiaries like BASE Educational Services Pvt Ltd.
BASE was acquired by Resonance in 2015 to expand operations.
Consolidated revenue reached Rs 160 crore in the fiscal year 2024.
The group reported a consolidated loss of Rs 2.2 crore in FY24.
BASE generated Rs 67.5 crore in revenue during the same fiscal year.
BASE recorded a profit of Rs 11.5 crore in FY24.
The company maintains a physical presence with centres like the one in Kota.
Historical data shows strong past performance with high student enrolment numbers.