₹1,206.03 crore in defaulted loans; insolvency process initiated February 22, 2023.
Reader Takeaway: Operations continue under the Insolvency Resolution Professional (IRP), but Supreme Court appeals create significant risk.
Today’s Filing
Siti Networks has officially informed the BSE and NSE that it does not meet the criteria to be classified as a ‘Large Corporate’ under SEBI’s listing regulations.
This announcement stems directly from the company’s ongoing insolvency process (CIRP).
The insolvency process was initiated by the National Company Law Tribunal (NCLT) on February 22, 2023.
Why This Matters
Not meeting the ‘Large Corporate’ status means Siti Networks faces specific regulatory and financial scrutiny.
More importantly, it highlights…