Mahanagar Telephone Nigam (MTNL) on Tuesday informed stock exchanges that it has defaulted on loans totalling Rs 8,585 crore from seven public sector banks.
The loss-making state-owned telco has been consistently defaulting on its debt obligations. Its shrinking market share and operational challenges have hurt its ability to pay employees, vendors and pensioners despite several government-led revival attempts, including plans for asset monetisation.
Although the Centre has signalled continued support, a concrete debt restructuring plan is pending.
The loss-making state-owned telco has been consistently defaulting on its debt obligations. Its shrinking market share and operational challenges have hurt its ability to pay employees, vendors and pensioners despite several government-led revival attempts, including plans for asset monetisation.
Although the Centre has signalled continued support, a concrete debt restructuring plan is pending.
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