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Siti Networks Limited ( (IN:SITINET) ) has issued an announcement.
Siti Networks Limited has disclosed a default on payment of interest and repayment of principal on loans from banks, as per SEBI regulations. The company is undergoing a Corporate Insolvency Resolution Process (CIRP) following an order by the National Company Law Tribunal (NCLT), with Mr. Rohit Mehra appointed as the Interim Resolution Professional. The insolvency proceedings have been reinstated after an appeal was dismissed, affecting the company’s financial operations and…