Mahanagar Telephone Nigam Limited — Important, 12-02-2025: General Updates

Mahanagar Telephone Nigam Limited (MTNL) has reported a default in principal and interest payments to several banks, totaling ₹8,214.85 Crore. Key lenders affected include 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 began in August and September 2024, with varying amounts overdue. The current outstanding borrowings across all banks amount to ₹8,214.85 Crore, and the total financial indebtedness of the company, including short-term and long-term debt, stands at ₹32,284.85 Crore. This situation highlights ongoing financial challenges for MTNL, which could significantly impact its operations and strategic initiatives. Investors should monitor this situation closely, as it poses potential risks to the company’s future stability and performance.