Mahanagar Telephone Nigam Limited (MTNL) on Saturday said it has defaulted on loan repayments of over ₹8,300 crore to multiple banks.&nbsp;
According to its stock exchange filing, the telecom firm failed to repay dues to several public sector banks, including Union Bank of India, Bank of India, Punjab National Bank, State Bank of India, UCO Bank, Punjab and Sind Bank, and Indian Overseas Bank.&nbsp;
As per the filing, MTNL defaulted on both principal and interest payments in March 2025. The total outstanding principal amount is ₹7,794.34 crore, while the interest overdue stands at ₹551.90 crore. Including penal charges, the overall default amount touches ₹8,346.24 crore.
"The total outstanding principal amount stands at ₹7,794.34 crore, while the interest due is &nbsp;₹482.97 crore," MTNL said in its filing.
The filing included a detailed breakdown of defaults with each lender. Union Bank of India is the largest creditor, with MTNL owing it over ₹3,633 crore, followed by Indian Overseas Bank&nbsp; ₹2,374 crore), and Bank of India (₹1,077 crore).&nbsp;
MTNL&rsquo;s accounts with these banks have been classified as Non-Performing Assets (NPAs) as early as August and September 2024, with the most recent default reported in February 2025 for Indian Overseas Bank.&nbsp;
&ldquo;The total financial indebtedness of the company&mdash;including both short- and long-term liabilities&mdash; ₹24,071 crore worth of Sovereign Guarantee (SG) Bonds, and ₹1,151 crore borrowed from the Department of Telecommunications (DoT) to pay interest on those bonds,&rdquo; the telecom operator added in its filing.
On the stock market front, MTNL shares closed at ₹43.80 on Thursday, slipping 0.41% on the National Stock Exchange (NSE).
While the stock has gained nearly 25% over the past 12 months, it has declined by about 13% so far in 2025.&nbsp;
&mdash;IANS
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Union Bank is MTNL's largest creditor, owed ₹3,633 crore —File Photo

MTNL Defaults ₹8,346.24 Cr: ₹7,794.34 Cr Principal, ₹551.90 Cr Interest

MTNL Defaults on ₹8,300 Crore Loan Repayments

MTNL Defaults ₹8,346.24 Cr: ₹7,794.34 Cr Principal, ₹551.90 Cr Interest

April 19, 2025 | 16:44 IST