Siti Networks Discloses Loan Defaults as Insolvency Process Advances

An announcement from Siti Networks Limited ( (IN:SITINET) ) is now available.

Siti Networks Limited has disclosed to stock exchanges that it is in default on payment of interest and repayment of principal on its bank loans, with total financial indebtedness and admitted claims of about Rs 1,206 crore as of March 31, 2026. The defaults relate primarily to loans and revolving credit facilities from banks and financial institutions.

The company is undergoing a Corporate Insolvency Resolution Process after the National Company Law Tribunal admitted a creditor’s petition in February 2023, and subsequent appeals by a company director and certain lenders were dismissed. With the insolvency proceedings reinstated and the board’s powers suspended in favour of the resolution professional, lenders have been directed to return amounts appropriated during a stay period with interest, a move that could impact creditor recoveries and the eventual resolution plan for the company.

More about Siti Networks Limited

Siti Networks Limited is an Indian cable television and broadband services provider operating in the media and entertainment distribution industry. The company focuses on delivering digital cable TV and related connectivity services to consumers across various regions in India, competing in a crowded pay-TV and broadband market.

Average Trading Volume: 40,985

Technical Sentiment Signal: Strong Sell

Current Market Cap: 427.3M INR

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