Default17 Apr 2026, 11:21 am
MTNL Defaults on ₹9,263 Cr Principal & Interest Payments to Banks
AI Summary
Mahanagar Telephone Nigam Ltd (MTNL) has disclosed defaults on payment of principal and interest amounts to several banks, totaling ₹9,262.53 crore. The current default amount includes ₹7,794.34 crore in principal and ₹1,468.19 crore in interest. The company's total outstanding borrowings from banks and financial institutions are ₹9,263 crore. The total financial indebtedness of MTNL, encompassing bank loans, SG bonds, and loans from DoT, stands at ₹36,314 crore. The defaults involve lenders such as Union Bank of India, Bank of India, Punjab National Bank, State Bank of India, UCO Bank, Punjab and Sind Bank, and Indian Overseas Bank, with default dates ranging from August 2024 to February 2025.
Key Highlights
- MTNL defaulted on ₹9,262.53 Cr principal and interest payments.
- Defaults occurred across seven banks, including SBI and PNB.
- Total outstanding bank borrowings are ₹9,263 Cr.
- Company's total financial indebtedness is ₹36,314 Cr.
- This is a significant default impacting multiple lenders.