MTNL Defaults on ₹9,495 Cr Principal & Interest Payments to Banks
Mahanagar Telephone Nigam Limited (MTNL) has disclosed defaults on principal and interest payments totaling ₹9,495.33 crore to several banks, including Union Bank of India, Bank of India, Punjab National Bank, State Bank of India, UCO Bank, Punjab and Sind Bank, and Indian Overseas Bank. The defaults span across multiple lenders, with specific dates of default and Non-Performing Asset (NPA) dates provided. The total outstanding principal amount in default is ₹7,794.34 crore, with an additional ₹1,700.99 crore in overdue interest. This disclosure highlights significant financial distress for the company, which has total outstanding borrowings from banks at ₹9,495 crore and overall financial indebtedness of ₹37,223 crore.
Key Highlights
- MTNL defaults on ₹9,495.33 Cr principal and interest payments.
- Seven banks listed as lenders with overdue amounts.
- Total outstanding bank borrowings stand at ₹9,495 Cr.
- Overall financial indebtedness reaches ₹37,223 Cr.
- Disclosure made as per SEBI (LODR) Regulations, 2015.
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