Multi-system operators SITI Network<\/a> has reported a total default of Rs 913 crore on payments of interest and repayment of principal amount on loans taken from banks for the quarter ended in September. This includes a principal amount of Rs 655 crore and interest of Rs 258 crore, the Essel group<\/a> firm informed in a regulatory update.
SITI Networks<\/a>, previously known as SITI Cable Network<\/a>, is a part of the Essel Group.
\"...the company is in discussions with its bankers for restructuring of its debt obligations,\" SITI Network said.
SITI Network's total financial indebtedness, including short-term and long-term debt, is Rs 898 crore.
Earlier in April, Housing Development Finance Corporation Ltd<\/a> (HDFC<\/a>) had moved the insolvency tribunal NCLT against SITI Networks Ltd<\/a> for alleged default of Rs 296 crore.
It provides cable services at 580 locations and adjoining areas, reaching out to over 11.3 million digital customers.<\/p><\/body>","next_sibling":[{"msid":94715604,"title":"Chhattisgarh govt, BSNL tie up for free internet facility in 108 Bastar villages","entity_type":"ARTICLE","link":"\/news\/chhattisgarh-govt-bsnl-tie-up-for-free-internet-facility-in-108-bastar-villages\/94715604","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[{"msid":"94711041","title":"1","entity_type":"IMAGES","seopath":"industry\/media\/entertainment\/siti-networks-total-default-at-rs-913-crore-in-second-quarter-of-fy23\/1","category_name":"SITI Network's total default at Rs 913 crore in second quarter of FY23","synopsis":"SITI Network's total financial indebtedness, including short-term and long-term debt, is Rs 898 crore.","thumb":"https:\/\/etimg.etb2bimg.com\/thumb\/img-size-17320\/94711041.cms?width=150&height=112","link":"\/image\/industry\/media\/entertainment\/siti-networks-total-default-at-rs-913-crore-in-second-quarter-of-fy23\/1\/94711041"}],"msid":94715667,"entity_type":"ARTICLE","title":"SITI Network's total default at Rs 913 crore in second quarter of FY23","synopsis":"SITI Networks, previously known as SITI Cable Network, is a part of the Essel Group. \"...the company is in discussions with its bankers for restructuring of its debt obligations,\" SITI Network said.","titleseo":"telecomnews\/siti-networks-total-default-at-rs-913-crore-in-second-quarter-of-fy23","status":"ACTIVE","authors":[],"analytics":{"comments":0,"views":631,"shares":0,"engagementtimems":2703000},"Alttitle":{"minfo":""},"artag":"PTI","artdate":"2022-10-08 07:51:40","lastupd":"2022-10-08 07:53:03","breadcrumbTags":["SITI Network","siti cable network","essel group","HDFC","Housing Development Finance Corporation Ltd","housing development finance corporation ltd","siti networks ltd","siti networks","hdfc","Industry"],"secinfo":{"seolocation":"telecomnews\/siti-networks-total-default-at-rs-913-crore-in-second-quarter-of-fy23"}}" data-authors="[" "]" data-category-name="" data-category_id="" data-date="2022-10-08" data-index="article_1">
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Multi-system operators SITI Network<\/a> has reported a total default of Rs 913 crore on payments of interest and repayment of principal amount on loans taken from banks for the quarter ended in September. This includes a principal amount of Rs 655 crore and interest of Rs 258 crore, the Essel group<\/a> firm informed in a regulatory update.
SITI Networks<\/a>, previously known as SITI Cable Network<\/a>, is a part of the Essel Group.
\"...the company is in discussions with its bankers for restructuring of its debt obligations,\" SITI Network said.
SITI Network's total financial indebtedness, including short-term and long-term debt, is Rs 898 crore.
Earlier in April, Housing Development Finance Corporation Ltd<\/a> (HDFC<\/a>) had moved the insolvency tribunal NCLT against SITI Networks Ltd<\/a> for alleged default of Rs 296 crore.
It provides cable services at 580 locations and adjoining areas, reaching out to over 11.3 million digital customers.<\/p><\/body>","next_sibling":[{"msid":94715604,"title":"Chhattisgarh govt, BSNL tie up for free internet facility in 108 Bastar villages","entity_type":"ARTICLE","link":"\/news\/chhattisgarh-govt-bsnl-tie-up-for-free-internet-facility-in-108-bastar-villages\/94715604","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[{"msid":"94711041","title":"1","entity_type":"IMAGES","seopath":"industry\/media\/entertainment\/siti-networks-total-default-at-rs-913-crore-in-second-quarter-of-fy23\/1","category_name":"SITI Network's total default at Rs 913 crore in second quarter of FY23","synopsis":"SITI Network's total financial indebtedness, including short-term and long-term debt, is Rs 898 crore.","thumb":"https:\/\/etimg.etb2bimg.com\/thumb\/img-size-17320\/94711041.cms?width=150&height=112","link":"\/image\/industry\/media\/entertainment\/siti-networks-total-default-at-rs-913-crore-in-second-quarter-of-fy23\/1\/94711041"}],"msid":94715667,"entity_type":"ARTICLE","title":"SITI Network's total default at Rs 913 crore in second quarter of FY23","synopsis":"SITI Networks, previously known as SITI Cable Network, is a part of the Essel Group. \"...the company is in discussions with its bankers for restructuring of its debt obligations,\" SITI Network said.","titleseo":"telecomnews\/siti-networks-total-default-at-rs-913-crore-in-second-quarter-of-fy23","status":"ACTIVE","authors":[],"analytics":{"comments":0,"views":631,"shares":0,"engagementtimems":2703000},"Alttitle":{"minfo":""},"artag":"PTI","artdate":"2022-10-08 07:51:40","lastupd":"2022-10-08 07:53:03","breadcrumbTags":["SITI Network","siti cable network","essel group","HDFC","Housing Development Finance Corporation Ltd","housing development finance corporation ltd","siti networks ltd","siti networks","hdfc","Industry"],"secinfo":{"seolocation":"telecomnews\/siti-networks-total-default-at-rs-913-crore-in-second-quarter-of-fy23"}}" data-news_link="//www.iser-br.com/news/siti-networks-total-default-at-rs-913-crore-in-second-quarter-of-fy23/94715667">
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