PNB Downgrades MTNL Loan to NPA over Non-Payment
As per a filing by MTNL to the stock exchanges that attaches a communication from PNB dated September 13, 2024 in this regard, across multiple accounts the outstanding amount adds up to about Rs 441 crore while the overdue amount is over Rs 46 crore.
In a new setback for the state-run telco, Mahanagar Telephone Nigam Ltd (MTNL) announced on Wednesday that its loan account with Punjab National Bank (PNB) has been downgraded to a Non-Performing Asset (NPA) this month due to non-payment of interest and instalment.
As per a filing by MTNL to the stock exchanges that attaches a communication from PNB dated September 13, 2024 in this regard, across multiple accounts the outstanding amount adds up to about Rs 441 crore while the overdue amount is over Rs 46 crore.
"This is to inform that loan accounts of MTNL have been downgraded to NPA... due to non payment of interest and instalment," the PNB letter to MTNL said.
Read Also : SJVN Limited holds 36th Annual General MeetingIt further said, "We hereby request you to repay the amount as mentioned above immediately and please also arrange the valid letter of comfort from the competent authority appropriately".
Read Also : BEL signs Agreement with Reliasat Inc. Canada to make a foray into space domainNews Must Read
- India’s Largest Bank, SBI raised Rs. 7,500 cr
- Indian Bank raises Rs. 5,000 Crores through issuance of Bonds
- NLCIL plans three fold increase in its total power generation capacity by 2030
- DVC enters into financial collaboration with State Bank of India
- IREDA Signs MoU with SJVN and GMR for 900 MW Hydropower Project in Nepal
- IREDA Signs MoU with SJVN and GMR fo Hydro Project in Nepal
- SJVN CMD visited 1320 MW Buxar Thermal Power Project
- Petroleum Minister Hardeep S Puri Highlights India’s Bioenergy Progress
- NBCC bags orders worth Rs. 182.50 Crore
- OMCs increases price of 19 kg commercial LPG cylinder by Rs 39