MTNL tells NSE it has defaulted on Rs 9,812 crore of bank loans

Mahanagar Telephone Nigam Limited (MTNL), a government of India enterprise, said in a filing with the National Stock Exchange that it has defaulted on the payment of principal instalments and interest to seven banks. The filing, dated 11 November 2026, puts the total default at Rs 9,812.04 crore as on 31 October 2026.

What Happened

MTNL said in the filing that it is making the disclosure under Regulations 30 and 51 of the SEBI Listing Regulations, which require listed companies to report defaults on loan payments. The company said the filing follows its earlier monthly letters on the same subject, the first of which it lists as dated 5 July 2024.

According to the filing, the lenders concerned are Union Bank of India, Bank of India, Punjab National Bank, State Bank of India, UCO Bank, Punjab and Sind Bank and Indian Overseas Bank. The nature of the obligation is given as principal and interest payment.

The filing's table gives the amount for each bank, in Rs crore:

• Union Bank of India: Rs 4,280.59 crore, with the date of default on the bank's books given as 12 August 2024.
• Bank of India: Rs 1,295.44 crore (4 September 2024).
• Punjab National Bank: Rs 536.33 crore (9 September 2024).
• State Bank of India: Rs 401.70 crore (28 September 2024).
• UCO Bank: Rs 307.02 crore (28 September 2024).
• Punjab and Sind Bank: Rs 210.85 crore (8 October 2024).
• Indian Overseas Bank: Rs 2,780.11 crore (3 February 2025).

The table totals Rs 9,812.04 crore. Of this, Rs 7,794.34 crore is principal and Rs 2,017.70 crore is interest. The filing describes the dates alongside each bank as the "Date of NPA", the date on which the bank classed the account as a non-performing asset.

The filing gives MTNL's total financial indebtedness, short-term and long-term, as Rs 37,633 crore. It says this includes bank loans of Rs 9,812 crore, sovereign guarantee bonds of Rs 24,071 crore and a loan from the Department of Telecommunications of Rs 3,750 crore, taken to pay interest on the bonds. The filing does not give a reason for the default.

What It Means

This is a disclosure by the company itself, made because listed companies must tell the exchange when they miss payments to lenders. It is not an order or finding by a regulator or a court.

For shareholders and bondholders, the filing is a record of how much MTNL says it owes and to whom. It is the latest in a series of monthly updates in which the company has reported the default. The filing says nothing about any plan to repay the banks or about how the amount may change, and Oquilia has not added any.

Readers who hold MTNL shares can read the full filing on the National Stock Exchange's website under the company's symbol, MTNL. Complaints against listed companies can be made at https://scores.sebi.gov.in.

Oquilia Data: Mahanagar Telephone Nigam Ltd. (NSE: MTNL)

Closes adjusted for splits and bonuses; returns exclude dividends. Facts from NSE's files, not investment advice.

Source: Company filing on NSE