CORPORATE
MTNL defaults on Rs 8,346.24-crore loans from seven State-owned banks
- IBJ Bureau
- Apr 21, 2025
State-run telecom company MTNL has defaulted on bank loans worth Rs 8,346.24 crore from seven public sector banks, the company has said in a regulatory filing.
The loss-making public sector telecom company’s total debt obligations reached Rs 33,568 crore as on March 31, 2025, according to the filing dated April 19.
The total loan default includes Rs 3,633.42 crore of debt raised from Union Bank of India, Rs 2,374.49 crore of Indian Overseas Bank, Rs 1,077.34 crore of Bank of India, Rs 464.26 crore from Punjab National Bank, Rs 350.05 crore from State Bank of India, Rs 266.30 crore from UCO Bank and Rs 180.3 crore along with principal and interest payment.
The defaults in loan payment have occurred between August 2024 and February 2025.
The total debt on the company comprises Rs 8,346 crore bank loans, Rs 24,071 crore sovereign guarantee (SG) bonds and loan of Rs 1,151 crore from Department of Telecom (DoT) for paying SG bond interest, according to the filing.
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