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Siti Networks Limited ( (IN:SITINET) ) has issued an announcement.
Siti Networks Limited has disclosed a default on the payment of interest and principal on loans from several banks, amounting to INR 1,206.03 crore. The company is undergoing a Corporate Insolvency Resolution Process (CIRP) as per the Insolvency and Bankruptcy Code, with the National Company Law Tribunal (NCLT) upholding the process after dismissing an appeal. This development impacts the company’s financial stability and operational control, with the Interim Resolution Professional now overseeing its operations.
More about Siti Networks Limited
Siti Networks Limited operates in the telecommunications industry, primarily offering cable television and broadband services. The company focuses on providing digital entertainment and connectivity solutions across various regions in India.
Average Trading Volume: 298,160
Technical Sentiment Signal: Sell
Current Market Cap: 444.7M INR
See more data about SITINET stock on TipRanks’ Stock Analysis page.