Siti Networks Limited Reports Default on Loan Payments and Details Total Financial Indebtedness
Details regarding the payment default on term loan installments from various financial institutions have been released by Siti Networks Limited. The company confirmed that the default occurred on June 30, 2026, involving multiple lenders holding obligations totaling 1,206.03 INR crore.The obligated funds involve a consortium of lenders including ARCIL, IDBI Bank, RBL, Axis Bank, ABFL, Induslnd Bank, Vani Agencies Pvt. Ltd., and Indian Cable Net Company Limited (ICNCL). The default pertains to term loan installments, with the total principal amount outstanding as reported.
The financial obligations are detailed below:
| Lender Name | Amount of Principal Obligation (INR crore) |
|---|---|
| Axis Bank Limited | 240.85 |
| Asset Reconstruction Company India Limited (ARCIL) | 364.77 |
| Aditya Birla Finance Limited (ABFL) | 177.94 |
| IDBI Bank Limited (IDBI Bank) | 169.66 |
| Induslnd Bank | 45.32 |
| Ratnakar Bank Limited (RBL) | 54.33 |
| Vani Agencies Pvt. Ltd. | 148.00 |
| Indian Cable Net Company Limited (ICNCL) | 5.16 |
| TOTAL | 1,206.03 |
The company reported that the total amount of outstanding borrowings from banks and financial institutions is 1,206.03 INR crore. Furthermore, the total financial indebtedness of the listed entity, which includes both short-term and long-term debt, stands at 1,500 INR crore.
Corporate Insolvency Resolution Process (CIRP) Status
Siti Networks Limited initiated a Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code (IBC), which was commenced on February 22, 2023. The company's board powers have been vested with the Interim Resolution Professional (IRP) as of October 1, 2024.The National Company Law Appellate Tribunal (NCLAT) ultimately dismissed a shareholder appeal regarding the Admission Order in August 2023. Subsequently, the NCLAT passed a judgment on July 31, 2025, dismissing all appeals and directing financial creditors to remit amounts back to the corporate debtor along with accrued interest, as per an order dated October 29, 2024.
Current operational status includes a Supreme Court stay granted to financial creditors concerning the remittance of amounts received during the CIRP stay period. The court also directed that no payments shall be made to operational creditors for liabilities related to the stay period.
SITINET Stock Price Movement
Today, shares of Siti Networks Limited surged in the post-market trade, posting a gain of 3.33% to settle at ₹0.31 after closing higher. The company's stock recorded a traded volume of 441,933 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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