MTNL defaults on Rs 37.5 crore Punjab & Sind Bank loan instalment

Mahanagar Telephone Nigam Limited (MTNL) has defaulted on a Rs 37.5 crore loan repayment owed to Punjab and Sind Bank, the state-owned telecom operator informed the exchanges on Friday. The financially beleaguered telco stated it defaulted on the repayment of the latest instalment of the principal loan amount on July 10.

The total unpaid principal amount stands at Rs 5,480.2 crore, it said. The company told the exchanges that its total outstanding borrowings from banks and financial institutions were Rs 7,780.2 crore. The company’s total indebtedness stood at Rs 31,851.2 crore.