In July, MTNL had disclosed defaults of Rs 8,585 crore to the same lenders
On July 15, MTNL informed exchanges that it has defaulted on a shade under Rs 8,585 crore in principal and interest payments to seven state-owned banks as on June 25.
The overdue principal on all the seven banks was Rs 1,868.61 crore, according to an exchange filing.
The asset sale process is under way and has a deadline of March 2026 but this could be missed due to state-level hurdles, say officials
MTNL defaulted on Rs 8,346.24 crore worth of loans taken from seven public sector banks, the telecom firm, which primarily operates in Delhi and Mumbai, said in an exchange filing in April
IOB MD and CEO Srivastava said the bank has made a 100 percent provision on this account from the cushion created on their balance sheet.
The defaults in loan payment have occurred between August 2024 to February 2025.
MoS for Communications Pemmasani Chandra Sekhar has informed Parliament that both BSNL and MTNL have earned Rs 12,984.86 crore from monetization of assets since 2019.
According to data shared by Minister of State for Communications Pemmasani Chandra Sekhar in Lok Sabha, BSNL has earned Rs 2,387.82 crore and MTNL Rs 2,134.61 crore up to January 2025 from monetisation of lands and buildings.
MTNL share price: The government has invested around Rs 3.22 lakh crore in BSNL and MTNL as part of three revival packages since 2019
Out of the total project cost of around Rs 19,000 crore, the company had already spent approximately rs 13,000 crore.
MTNL share price: Finance Minister Nirmala Sitharaman, in her Union Budget 2025 speech, announced a new scheme aimed at providing broadband connectivity to select government schools and health centres.
MTNL will now offer Voluntary Retirement Scheme (VRS) to employees who are 45 years old or older, including both executives and non-executives.
MTNL has defaulted on payment of Rs 173.13 crore due to paid to Punjab and Sind Bank, comprising the principal amount of Rs 166.57 crore
Goel said the bank have Rs 435 crore of exposure to MTNL, which falls in to NPA this quarter and because of that slippages have gone up
Sources told the channel that MTNL going under NCLT may not set the 'right precedence for PSUs', and the issue is to keep MTNL 'as a going concern'.
MTNL shares hit the lower circuit after being classified as a non-performing asset (NPA) by SBI, with total debt of Rs 31,944.51 crore and outstanding payments to several banks.
Several banks have taken action against MTNL for non-payment of dues, including Punjab National Bank and Union Bank
MTNL shared the letter from SBI that stated the total outstanding in the account at over Rs 325.52 crore as on September 30, with an overdue amount of Rs 281.62 crore needed to regularize the account.
As part of a public-private partnership, BSNL (MTNL) invited Indian companies to deploy and showcase their 5G solutions in their live operational network. For these trials, BSNL is providing its spectrum, towers, power supply, and infrastructure support for equipment housing.
NBCC and MTNL shares are in focus as the companies signed an MoU to jointly develop a 13.88-acre land parcel on Pankha Road, New Delhi, into residential and commercial space.