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yesterday

MTNL Discloses Rs 8,584.9 Crore Default to Seven Banks, Shares Drop 4%

MTNL is selling noncore assets under a streamlined government framework to help repay its Rs 34,484 crore liabilities.

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Overview

  • MTNL disclosed a total default of Rs 8,584.9 crore in principal and interest payments to seven public sector banks as of June 2025.
  • Union Bank of India is the largest affected lender with Rs 3,733.2 crore overdue, followed by Indian Overseas Bank at Rs 2,434.1 crore.
  • The company’s overall debt stands at Rs 34,484 crore, including Rs 24,071 crore in sovereign guarantee bonds and Rs 1,828 crore owed to the Department of Telecommunications.
  • MTNL shares fell roughly 4% to close at Rs 49.92 on July 15 following the default disclosure.
  • Employees have held protests urging the Department of Telecommunications to intervene as authorities simplify MTNL’s asset sales by scrapping auctions in favour of direct valuations.