Mahanagar Telephone Nigam Limited (MTNL) has defaulted on bank loan repayments worth Rs 4.22 billion. The total default amount includes Rs 3.28 billion principal instalment and Rs 0.93 billion interest instalment for June and July 2024.
According to the regulatory filing, the public sector undertaking (PSU) has default amounts including Rs 1.55 billion, Rs 1.4 billion, Rs 403.3 million, Rs 400.1 million, Rs 415.4 million and Rs 40.4 million on debt raised from Union Bank of India, State Bank of India, Bank of India, Punjab and Sind Bank, Punjab National Bank and UCO Bank, respectively. The PSU had earlier raised Rs 55.73 billion in debt from these banks.
MTNL’s total borrowings from banks and financial institutions stand at Rs 78.73 billion, and the total debt at Rs 319.44 billion.
