Siti Networks Ltd

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.

Siti Networks Ltd, a leading media company, is facing insolvency proceedings as per the National Company Law Tribunal (NCLT) Mumbai Bench's order dated 22 February 2023. The NCLAT has upheld the admission order, reinstating the Corporate Insolvency Resolution Process (CIRP) with Mr. Rohit Mehra as the IRP. The powers of the Board of Directors are currently suspended. The NCLT's 1 October Order has fixed the insolvency commencement date at 22 February 2023, and held that moratorium under Section 14 of the Code was applicable during the Stay Period. The transactions and appropriation during the Stay Period shall be reversed to the accounts of the Corporate Debtor. The expenses incurred in the ordinary course of business to keep the Company as a going concern are to be protected. Certain lenders of the Company had filed appeals against the 1 October Order before the Hon’ble NCLAT, and the RP has filed a limited appeal. The Hon’ble NCLAT has directed the lenders to keep the amounts appropriated by them during the Stay Period in a separate interest-bearing account during the pendency of the appeals. The Hon’ble NCLAT has dismissed all appeals on 31 July 2025, directing the financial creditors to remit the amount back to the corporate debtor along with accrued interest. Certain financial creditors have preferred appeals before the Hon’ble Supreme Court against the judgment of the Hon’ble NCLAT dated 31st July 2025. There is currently a stay granted by the Hon’ble Supreme Court to the financial creditors from remitting the amounts received by them during the stay period of the CIRP, and also a direction that no payments shall be made to operational creditors for liabilities relating to the stay period of the CIRP.

Siti Networks Ltd. has defaulted on term loan installments to multiple banks, including ARCIL, IDBI Bank, RBL, Axis Bank, ABFL, IndusInd Bank, Vani Agencies Pvt. Ltd., and ICNCL. The default amount, including principal and interest, is approximately INR 2180.85 crore. The company is currently undergoing a Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016, with Mr. Rohit Mehra as the Interim Resolution Professional (IRP). The National Company Law Tribunal (NCLT) has fixed the insolvency commencement date at 22 February 2023 and held that the moratorium under Section 14 of the Code was applicable during the Stay Period. The NCLAT has dismissed the company's appeal against the Admission Order and directed the financial creditors to remit the amount back to the corporate debtor along with accrued interest. Certain financial creditors have preferred appeals before the Hon’ble Supreme Court against the judgment of the Hon’ble NCLAT dated 31st July 2025.

Siti Networks Ltd. has defaulted on loan repayments to multiple lenders, including ARCIL, IDBI Bank, RBL, Axis Bank, ABFL, IndusInd Bank, and Vani Agencies Pvt. Ltd. The default amount stands at INR 1,206.03 crore. The National Company Law Tribunal (NCLT) initiated the Corporate Insolvency Resolution Process (CIRP) of Siti Networks Limited on 22 February 2023. The NCLAT dismissed the appeal against the admission order on 14 August 2023, reinstating the CIRP. The NCLT, on 1 October 2024, held that the CIRP-related activities should be reckoned from 22 February 2023, and the moratorium under Section 14 of the Code was applicable during the Stay Period. The NCLAT, on 31 July 2025, dismissed all appeals and directed the financial creditors to remit the amount back to the corporate debtor along with accrued interest. Certain financial creditors have preferred appeals before the Hon’ble Supreme Court against the judgment of the Hon’ble NCLAT dated 31st July 2025.

Siti Networks Ltd has announced the closure of the trading window for its designated persons in accordance with the Company's Code of Internal Procedures and Conduct for Prohibition of Insider Trading in Securities. The closure is effective from January 1, 2026, and will remain in force until 48 hours after the announcement of the Un-Audited Financial Results for the third quarter of financial year 2025-26 and nine months ending on December 31, 2025. This move is aimed at preventing insider trading during the sensitive period surrounding the release of financial results.

Siti Networks Ltd. is delaying the submission of its Q2 FY2025-26 financial results due to the ongoing corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code, 2016. The CIRP initiation led to the suspension of the board's powers and the management being vested in the Resolution Professional (RP). The finance department has been heavily engaged in transaction audits, valuations, claim verifications, and other legal and financial assessments, causing delays. The resignation of key finance and audit team members and the complexity of aligning financial statements with CIRP proceedings have also contributed to the delay. The company is working to ensure compliance with SEBI Listing Regulations and anticipates submitting the report by January 31, 2026.