Siti Networks Limited has informed the Exchange about General Updates
SITINET · price
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Siti Networks Limited has disclosed a continuing default on term loan installments owed to multiple lenders, with the default date being August 31, 2025 and ongoing beyond 30 days. The lenders include Axis Bank, ARCIL, Aditya Birla Finance (ABFL), IDBI Bank, IndusInd Bank, RBL, Vani Agencies Pvt. Ltd., and Indian Cable Net Company (ICNCL), with total admitted claims of approximately INR 1,206 crore to INR 1,500 crore. The company has been under Corporate Insolvency Resolution Process (CIRP) since February 2023 after the NCLT admitted an insolvency petition, and the powers of its board of directors are suspended and vested in the Interim Resolution Professional (IRP). Several appeals are pending before the Supreme Court regarding the treatment of creditor claims, making the final resolution sub judice.
This filing confirms that Siti Networks is in deep financial distress with a confirmed loan default spanning multiple lenders, and the stock remains under insolvency proceedings — meaning equity shareholders face significant risk of dilution or total loss in any resolution plan. Investors should treat this as a high-risk situation with limited near-term recovery prospects pending Supreme Court rulings.