Union Bank freezes accounts of telecom firm MTNL over non-payment of dues

Union Bank of India has frozen all accounts of state-run telecom company MTNL for non-payment of dues, a regulatory filing said on Wednesday.

Union Bank of India informed the company on August 21 about freezing of all its accounts over non-payment of loans, debt-ridden MTNL said.

“This is to inform you that Union Bank of India vide its Letter… dated August 21, 2024 has informed MTNL that its account has slipped to NPA with effect from August 12, 2024 due to which all accounts of MTNL with Union Bank of India have been freezed automatically,” MTNL said.