MTNL FINANCIAL OBLIGATIONS
MTNL defaults on Rs 8,346 crore in bank loans; total indebtedness reaches Rs 33,568 crore
MTNL has defaulted on loan repayments exceeding Rs 8,300 crore to a consortium of banks, including Union Bank of India and State Bank of India, with default dates ranging from August 2024 to February 2025. The telecom operator's total financial indebtedness is a staggering Rs 33,568 crore, which includes dues to banks, State Government Bonds, and the Department of Telecommunications.
MTNL shares rally over 13% after clarification on bond payment
MTNL shares jumped nearly 14% after the company confirmed the government would honor bond payments following a default. Due to insufficient funds, MTNL missed a payment deadline, triggering the sovereign guarantee. This assurance calmed investors despite the company's ongoing financial struggles and second-quarter loss.
Govt steps in to pay interest on MTNL bond
MTNL informed investors that its debt obligations for the upcoming semi-annual interest payment on its 7.80% bond have been made for Series VIII-C (INE153A08170). The funds were transferred into the designated escrow account on November 4, before the November 7 due date.
MTNL seeking Rs 1,151.65 cr for paying interest arising out of sovereign guaranteed bonds
“MTNL has sought Rs 1,151.65 crore to meet the payment of interest on Sovereign Guarantee Bonds (SGBs) for Financial Year 2024-25,” Minister of State for Communications Pemmasani Chandra Sekhar in a written reply to the Rajya Sabha.
MTNL seeks Rs 1,151.65 cr for sovereign guarantee bonds interest this fiscal
Debt-ridden state telecom firm MTNL has requested ₹1,151.65 crore for interest payments on sovereign guarantee bonds for the current fiscal year, Parliament was informed on Thursday. Minister of State for Communications Pemmasani Chandra Sekhar explained that the government has previously allocated funds for MTNL and BSNL's revival, including ₹69,000 crore in 2019 and ₹1.64 lakh crore in 2022 for various measures.
Why the government is against the merger of Vodafone Idea and BSNL -MTNL
Vodafone Idea's shareholders would be heavily diluted since the debt owed to the government is six times the (telco’s) current market-cap, and such a proposal might not be acceptable to shareholders, the Deutsche Bank report added.
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Paytm claims telecom firms not preventing phishing; HC seeks Centre, Trai response
Additional Solicitor General Maninder Acharya and central government standing counsel Anurag Ahluwalia accepted notice on behalf of the ministry.
Paytm moves HC claiming telecom companies not preventing phishing activity over their networks
Phishing is a cybercrime where people are contacted by email, phone calls or text messages by someone posing as a legitimate representative of an organisation to lure them to part with their sensitive data, inlcuding banking and credit card details and passwords.
Vendors want BSNL dues matter to reach finance ministry
In a letter to telecom minister Ravi Shankar Prasad dated April 8, PHD telecom committee chairman Sandeep Agarwal said that state-owned operator BSNL owes Rs 6000 crore against capex, Rs 1000 crores for projects and Rs 13,000 crore against opex to vendors.
Govt trying to revive BSNL, MTNL, make them professional
Communications minister Ravi Shankar Prasad informed Rajya Sabha that in order to revive the public sector units BSNL and MTNL, the VRS scheme as initiated by the government has received an encouraging response by 79,000 employees of BSNL and 14,000 out of 20,000 employees of MTNL who have applied for the same.
Staff salaries due for 2 months, trying sincerely to release wages at earliest: MTNL CMD
"Salary payment for two months...July and August are pending, we have cleared it (wages) till June," said Sunil Kumar, who recently assumed additional charge as chairman and managing director of MTNL.
Committee to look at levies, telecom pain points: Ravi Shankar Prasad
Telecom department has set up a panel to rationalise levies to address the issue of financial distress.
DoT commission seeks revenue assurance from BSNL, MTNL for revival support
Public sector firms BSNL and MTNL have sought financial support, 4G spectrum and approvals for asset sales as part of their revival plans.
Will repay Rs 125 cr debt to PSU bank by June-end: PK Purwar, MTNL CMD
A household telephony brand in the 90s and early 2000, MTNL's revenue and profitability has come under tremendous pressure with intensified competition in mobile services.
2G service quality of 3 telecom operators below TRAI norms in December quarter
The telecom regulator TRAI monitors the performance of service providers, including state-owned Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL).
MTNL planning to raise around Rs 2,300 crore by selling bonds with ten-year maturity
The bids will open on Wednesday as the coupon rate is expected to be fixed above 10-15 basis points higher than the benchmark govt bonds.
Gear firm NSN quote high prices to modernise MTNL network
MTNL's plans to expand second- and third-generation networks in Delhi and Mumbai have hit a roadblock because the lowest bid put in by NSN at more than Rs 800 crore is way above the state-run telecom operator's cost estimates.
Mahanagar Telephone Nigam Ltd’s expansion plans hit cost hurdle
MTNL wants NSN to reduce its bid for supplying 2G and 3G network gear substantially as the company’s estimated project cost is well under Rs 550 cr.
MTNL plans to raise up to Rs 10 bn via bonds
On Tuesday, MTNL collected about Rs 800 crore as against the proposed Rs 1,000 crore in a bond sale offering 9.61% annualised coupon for ten years.
GoM discusses ways to revive BSNL, MTNL
The inter-ministerial group looking at reviving the state-run telecom operators met for the first time on Wednesday but could not reach any decision.
DoT presents financial status of BSNL, MTNL before GoM
The Department of Telecom (DoT) today made a preliminary presentation on the present financial status of BSNL and MTNL to the Group of Ministers.
Telcos oppose Rs 23,000 crore bailout for BSNL and MTNL
Operators have also slammed the telecom department’s justification that the financial support was being sought as the state-owned telcos serve govt’s social agenda.
DoT wants government to bear the cost of the one-time spectrum fee for BSNL and MTNL
DoT has also sought the Cabinet’s clearance to refund a part of the 4G spectrum costs of these companies as they had surrendered these airwaves last year.
BSNL, MTNL continue to bleed with falling revenues, indicate performance reviews
Unlisted BSNL, in its presentation has said its estimates indicate that its revenues for the year-ended March 2013 would be around Rs 25,384 crore, down 9%% as against Rs 27,944 crore during 2011-12.
BSNL borrowed Rs 1,320 cr for capex in 2011-12
BSNL borrowed Rs 1,320.47 crore from the market to meet capital expenditure during 2011-12, Minister of State for Communications and IT said.
Government yet to take call on VRS for BSNL, MTNL employees
BSNL and MTNL had submitted a proposal duly approved by their respective boards to seek financial support from the govt for implementation of VRS.
Return spectrum fee to PSU telcos: Raja to FM
Pitching for telecom PSUs, BSNL and MTNL, telecom minister A Raja has approached finance minister Pranab Mukherjee seeking reimbursement of Rs 29,598.3 crore paid by them for spectrum.
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