MTNL defaults on Rs 37.5 crore Punjab & Sind Bank loan instalment

Quick Summary:

On Thursday, telecom minister Jyotiraditya Scindia said the Department of Telecommunications (DoT) is closely monitoring MTNL.

The total unpaid principal amount stands at Rs 5480.2 crore, MTNL said.

With this date having been passed, the government had to step in and deposit the necessary funds in the designated trust and retention account at least three days before the due date, which was July 17, Wednesday.

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Category: BusinessFinance

Markets: India

Topics: MTNL debt burden MTNL loan default BSNL Jyotiraditya Scindia MTNL financial trouble Debt Telecom operator Financial crisis Share price Bondholders Department of Telecommunications MTNL Loan default Sovereign-guaranteed bonds Revival package

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News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-19 @ 15:25:12 (4 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

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News ID: 21683208

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