Mahanagar Telephone Nigam Limited (MTNL) has disclosed a significant default in its financial obligations, amounting to ₹9,340 crore, as per a regulatory filing. The default pertains to both principal and interest payments to several banks as of 30 April 2026.
The banks involved include Union Bank of India, Bank of India, Punjab National Bank, State Bank of India, UCO Bank, Punjab and Sind Bank, and Indian Overseas Bank. The dates of non-performing asset (NPA) classification for these banks range from August 2024 to February 2025.
The total outstanding amount includes a principal sum of ₹7,794.34 crore and overdue interest of ₹1,545.34 crore. Additionally, there is an overdue principal amount of ₹2,145.72 crore. The largest default is with Union Bank of India, where the outstanding amount is ₹4,076.83 crore, comprising ₹3,334.57 crore in principal and ₹742.26 crore in interest.
MTNL’s total financial indebtedness stands at ₹36,545 crore, which includes a bank loan of ₹9,340 crore, SG Bond of ₹24,071 crore, and a loan from the Department of Telecommunications for paying SG Bond interest amounting to ₹3,134 crore.
This disclosure follows a series of previous communications from MTNL regarding financial defaults, highlighting ongoing financial challenges for the state-owned enterprise.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).
This article is written by Arunika Jain and reviewed by Aman Shukla before publication.