MTNL Defaults on Principal and Interest Payments to Multiple Banks

Mahanagar Telephone Nigam Ltd (MTNL) has defaulted in the payment of principal and interest 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 occurred between August 2024 and February 2025, with the total outstanding borrowings from banks amounting to INR 9,188 crore. This forms part of the company's total financial indebtedness of INR 36,216 crore, which includes bank loans, SG bonds, and short-term and long-term debt.