Mahanagar Telephone Nigam Ltd (MTNL) has defaulted payments amounting to Rs 8,585 crore of both principal and interest to seven major public sector banks, the state-run company said in an exchange filing. The seven lender banks 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.According to the filing, the defaulted amounts of the Union Bank of India sum to Rs 3,733.22 crore, the Bank of India Rs 1,121.09 crore, the Punjab National Bank Rs 474.66 crore and the State Bank of India Rs 363.43 crore.The company added that it has defaulted on Rs 273.58 crore of dues to UCO Bank, Rs 184.82 crore to Punjab and Sind Bank and Rs 2,434.13 crore to Indian Overseas Bank, the filing shows.The loss-making MNTL's total debt obligations reached Rs 34,484 crore as of June 30, 2025. This includes Rs 24,071 crore of sovereign guarantee (SG) bonds and a Loan for DoT for paying SG Bond Interest of Rs 18,28 Crore, according to the filing. Loan payment failures have occurred from August 2024 until February 2025.The Centre had recently cleared the Non-Auction Route for assets valued below Rs 10 crore to monetise the assets of state-run entities, including BSNL and MTNL. Under the provision, telecom firms determine the pricing, while the Central Public Works Department (CPWD) determines the valuation. Assets valued above Rs 100 crore will be monitored by the National Land Monetisation Corporation (NLMC).MTNL is selling non-core assets like land, buildings, towers, and fibre to generate revenue. In September last year, the Public sector undertaking, NBCC (India) Limited, developed a 13.88-acre land parcel of MTNL.The company has a total of 41 land and building parcels in Delhi. Out of these land and building parcels, about 14 venues are vacant, as per a document provided by the company on its website. The other venues of the PSU have either permanent buildings or temporary buildings.The stocks of MTNL were trading at Rs 50.67 at 1:40 pm on Wednesday after touching the lowest levels of Rs 49.38.
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