Siti Networks Limited has informed the Exchange regarding 'Disclosure in compliance with Para 3(C2) of SEBI Circular No. SEBI/HO/CFD/CMD1/CIR/2019/140 dated November 21, 2019, of default on payment of interest/repayment of principal amount on loans from Bank(s)'.
SITINET · price
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Siti Networks Limited has disclosed a full loan default of ₹1,206.03 crore as of March 31, 2026, down from ₹1,500 crore claimed in August 2023. The company is undergoing Corporate Insolvency Resolution Process (CIRP) initiated by NCLT Mumbai in February 2023. The Board of Directors' powers are suspended and vested in the Interim Resolution Professional. The NCLAT dismissed the company's appeal against the admission order in August 2023, upholding the insolvency proceedings. Total claims admitted from financial creditors stand at ₹1,206.03 crore. Ongoing appeals remain pending before higher courts.
This filing confirms Siti Networks is in severe financial distress with complete default on bank loans. Shareholders should note the company is under insolvency proceedings with no active board control, and stock is likely to remain highly volatile or face suspension.