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 to the stock exchanges that it is in default on the entire outstanding amount of its bank loans. As of December 31, 2025, the total loan outstanding stands at ₹1,206.03 crore, and the full amount is in default. The company is currently under the Corporate Insolvency Resolution Process (CIRP), which was initiated by NCLT in February 2023, with Mr. Rohit Mehra acting as the Interim Resolution Professional (IRP). The board of directors remains suspended and the IRP is managing operations. Several financial creditors have appealed to the Supreme Court, which has currently stayed the remittance of amounts appropriated during the stay period. The disclosure is based on creditor claims as of February 2023 and August 2023, and will be updated in future filings based on Supreme Court outcomes.
This is a strongly negative signal for shareholders — the company is in active insolvency proceedings with 100% default on bank borrowings, and the equity could face significant dilution or extinction depending on the resolution plan and Supreme Court rulings. Existing shares carry very high risk and the stock is likely to remain under pressure.