Siti Networks Limited has informed the Exchange regarding 'Disclosure in compliance with Para 3(C1) 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 to the exchanges that it defaulted on term loan instalments owed to multiple lenders. The default date is November 30, 2025, and it continues beyond 30 days. The total outstanding claims from lenders stand at approximately INR 1,206.03 crore (as per claims received on August 1, 2023), spread across eight lenders including Axis Bank, ARCIL, Aditya Birla Finance (ABFL), IDBI Bank, IndusInd Bank, RBL, Vani Agencies, and ICNCL. The company has been under the Corporate Insolvency Resolution Process (CIRP) since February 22, 2023, following an NCLT order. Multiple appeals are currently pending before the Supreme Court of India, with a stay on financial creditors from remitting amounts back to the company.
This disclosure highlights Siti Networks' deep financial distress, with liabilities exceeding INR 1,200 crore against ongoing insolvency proceedings. For retail shareholders, the outlook is grim — equity value is likely severely impaired or close to zero given the scale of debt and the unresolved CIRP process. The stock remains a high-risk bet with little near-term recovery potential until the Supreme Court appeals are resolved.