MTNL defaults on bond repayment due on August 24

State-run telecom firm MTNL on Thursday said it has again failed to repay the bond payment due on August 24. The state-owned telecom firm did not disclose the amount. MTNL, in a regulatory filing, said that its fourth semi-annual interest of 7.61% MTNL Bond Series VIIIB is due on August 24.

As per the structured payment mechanism of tri-partite agreement (TPA) signed among MTNL, Department of Telecommunications (DoT) and Beacon Trusteeship Ltd, MTNL has to fund the semi-annual interest into the escrow account maintained in Bank of India with an adequate amount 10 days before the due date.