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Siti Networks Limited ( (IN:SITINET) ) has issued an announcement.
Siti Networks Limited has disclosed a default on the payment of interest and principal on loans from several banks, amounting to INR 1,206.03 crore. The company is undergoing a Corporate Insolvency Resolution Process (CIRP) as per the Insolvency and Bankruptcy Code, with the National Company Law Tribunal (NCLT) upholding the process after dismissing an appeal. This development impacts the company’s financial stability and operational control, with the Interim Resolution…