Siti Networks Ltd

Siti Networks Limited has disclosed defaults on term loan installments, with the total outstanding borrowings from banks and financial institutions exceeding ₹1,206 crore as of August 10, 2023. The company is undergoing Corporate Insolvency Resolution Process (CIRP) initiated by the NCLT Mumbai on February 22, 2023. The default date is July 31, 2026, and it continues beyond 30 days. Lenders include ARCIL, IDBI Bank, RBL, Axis Bank, ABFL, Indusind Bank, Vani Agencies Pvt. Ltd., and ICNCL. A related party claim from ZEEL assigned to Vani Agencies Pvt. Ltd. is also involved in legal proceedings regarding its classification and inclusion in the Committee of Creditors.

Siti Networks Limited has disclosed defaults on term loan installments to multiple lenders including ARCIL, IDBI Bank, RBL, Axis Bank, ABFL, Induslnd Bank, Vani Agencies Pvt. Ltd., and ICNCL. The default date is June 30, 2026, and it continues beyond 30 days. The total outstanding claims from these lenders as of August 2, 2023, were approximately ₹1,500 crore, with Axis Bank, ARCIL, and ABFL having the largest claims. The company is currently undergoing Corporate Insolvency Resolution Process (CIRP) initiated by the NCLT on February 22, 2023. Appeals and counter-appeals related to the CIRP and appropriation of funds during a stay period are ongoing.

Siti Networks Ltd. is undergoing Corporate Insolvency Resolution Process (CIRP) following a National Company Law Tribunal (NCLT) order on February 22, 2023. The company has appointed M/s. Vijaya Gupta & Co., Chartered Accountants, as its new statutory auditor for the financial years 2025-26 and 2026-27. This appointment is consequent to the approval of the Committee of Creditors (CoC) under the Insolvency and Bankruptcy Code, 2016. Vijaya Gupta & Co. replaces M/s. DNS & Associates, who have resigned. The new auditor has over 45 years of experience, particularly in banking, corporate, and regulatory domains.

Siti Networks Ltd has announced the closure of its trading window for designated persons in connection with the upcoming Un-Audited Financial Results for the first quarter of the financial year 2026-27, ending June 30, 2026. The window will be closed from July 1, 2026, and will reopen 48 hours after the announcement of the financial results. Designated persons are advised against trading in the company's equity shares during this period to prevent insider trading.

Siti Networks Limited has disclosed defaults on term loan installments and interest payments to multiple lenders including ARCIL, IDBI Bank, RBL, Axis Bank, ABFL, IndusInd Bank, Vani Agencies Pvt. Ltd., and ICNCL. The default date was May 31, 2026, continuing beyond 30 days. The total outstanding claims from these banks as of August 10, 2023, amounted to ₹1,206.03 crore. This disclosure follows the initiation of Corporate Insolvency Resolution Process (CIRP) by the NCLT on February 22, 2023, with subsequent legal challenges and appeals. The NCLAT has upheld the CIRP, and the company's board powers are suspended, vested with the IRP.

Siti Networks Ltd discloses defaults on loan and interest payments to various banks and financial institutions, including ARCIL, IDBI Bank, RBL, Axis Bank, ABFL, IndusInd Bank, Vani Agencies Pvt. Ltd., and ICNCL. As of April 30, 2026, the total outstanding borrowing amount is ₹1,206.03 crore against claims of ₹1,500 crore. The company is undergoing Corporate Insolvency Resolution Process (CIRP) initiated by the NCLT, with ongoing appeals in the Supreme Court regarding amounts appropriated during the stay period.

Siti Networks Ltd has disclosed defaults on payment of interest and principal amounts for loans from various banks and financial institutions, including ARCIL, IDBI Bank, RBL, Axis Bank, ABFL, IndusInd Bank, Vani Agencies Pvt. Ltd., and ICNCL. The default date is March 31, 2026, and it has continued for over 30 days. The total outstanding borrowings from these lenders amount to ₹1,500 crore as of August 10, 2023. The company is currently undergoing a Corporate Insolvency Resolution Process (CIRP), which was initiated by the NCLT on February 22, 2023. After an interim stay by NCLAT, the CIRP was reinstated on August 10, 2023, with the NCLT confirming the insolvency commencement date as February 22, 2023. The powers of the Board of Directors are suspended and vested in the Interim Resolution Professional.

Siti Networks Ltd has announced its un-audited financial results for the second quarter of the financial year 2025-26 and half year ended on September 30, 2025. The results have been signed by the Resolution Professional (RP) while exercising the powers of the Board of Directors. The company has provided the un-audited financial results, both standalone and consolidated, along with the Limited Review Reports thereon issued by the Statutory Auditor.

Siti Networks Ltd has announced the closure of the trading window for designated persons in connection with the Audited Financial Results for the fourth quarter and financial year ending on March 31, 2026. The closure is as per the Company's Code of Internal Procedures and Conduct for Prohibition of Insider Trading in Securities. The trading window will remain closed from April 1, 2026, until 48 hours after the announcement of the Audited Financial Results. All designated persons have been advised not to trade in the Securities of the Company during this period.

Siti Networks Limited has defaulted on term loan installments to various lenders including ARCIL, IDBI Bank, RBL, Axis Bank, ABFL, Induslnd Bank, Vani Agencies Pvt. Ltd., and ICNCL. The default amount as of February 28, 2026, is INR 1,206.03 crore. The company is undergoing a Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. The National Company Law Appellate Tribunal (NCLAT) has dismissed the company's appeal against the initiation of CIRP. The NCLAT has also directed that the amounts appropriated by the lenders during the Stay Period be kept in a separate interest-bearing account during the pendency of the appeals.