Siti Networks defaults on ₹1,206 crore loans in 2026

What Siti Networks disclosed to stock exchanges

Siti Networks Limited has reported term-loan instalment defaults totalling ₹1,206.03 crore to a consortium of eight lenders through exchange disclosures. The filings were made under SEBI Circular No. SEBI/HO/CFD/CMD1/CIR/2019/140 dated November 21, 2019, which requires listed companies to disclose defaults on payment of interest or repayment of principal to banks and financial institutions. The company stated that the defaults continued beyond the 30-day threshold that triggers formal reporting under the SEBI framework. In one such disclosure, the company recorded the date of making the disclosure as July 31, 2026. The nature of the obligation was described as term loan instalments.

Key default date and the 30-day reporting threshold

In the July 31, 2026 disclosure, Siti Networks reported a default date of June 30, 2026 and noted that it continued beyond 30 days. The company’s disclosure trail also references multiple cut-offs used in earlier filings, including January 31, 2026 and February 28, 2026. Separately, the company stated that defaults totalled ₹1,206.03 crore as of April 30, 2026, with an exchange disclosure date of April 30, 2026. Another regulatory filing date referenced is March 2, 2026, which reported the default amount as of January 31, 2026. The disclosures also include a reference to a default date of November 30, 2025 under the same SEBI circular framework.

Lenders named in the filings

Across the disclosures, Siti Networks listed the lenders as Asset Reconstruction Company (India) Limited (ARCIL), IDBI Bank, RBL (Ratnakar Bank Limited), Axis Bank, ABFL (Aditya Birla Finance Limited), IndusInd Bank, Vani Agencies Pvt. Ltd., and ICNCL (Indian Cable Net Company Limited). The company’s filings describe the defaults as term-loan instalment obligations. The total default amount reported across the set of filings remains ₹1,206.03 crore. Within the lender-wise break-up provided in the disclosures, ARCIL was shown as the largest exposure by current default amount.

Lender-wise defaults and earlier claim figures

The disclosures include a table showing current defaults and a “previous claim” number for each lender, along with totals. The current default totals to ₹1,206.03 crore, while the total previous claim shown is ₹1,500 crore. The lender-wise values below are taken from the table in the disclosure trail.

How the disclosure amounts link to claims submitted

The filings also reference “amount of claim submitted” figures tied to the company’s insolvency process. The total amount of claim submitted as on August 10, 2023 was stated as INR 12,060.3 million, which equals ₹1,206.03 crore. The total amount of claim submitted as on February 22, 2023 was stated as INR 15,000 million, which equals ₹1,500 crore. These totals align with the aggregate figures presented in the lender table included in the disclosure trail.

Insolvency context: CIRP status and the IRP

Siti Networks has stated that it remains under Corporate Insolvency Resolution Process (CIRP), initiated on February 22, 2023. The company identified Mr. Rohit Mehra as the Interim Resolution Professional (IRP). Within the same context, the company stated that total outstanding claims against it amounted to ₹1,206.03 crore as of August 10, 2023. The exchange disclosures on defaults sit alongside this insolvency backdrop, and the company’s default reporting is framed as a compliance requirement under SEBI’s disclosure rules.

Timeline of referenced cut-offs and disclosures

The disclosure trail spans multiple reporting dates and cut-offs, reflecting how the company updated its default position across quarters. While the total default amount reported is consistently ₹1,206.03 crore in the cited text, the filings refer to different default dates and as-of dates.

Why the SEBI circular matters for investors

SEBI’s November 21, 2019 circular standardises how listed entities report payment defaults, including when a default continues beyond 30 days. In this case, the company explicitly linked its disclosures to Para 3(C1) of the SEBI framework and used the required format to describe the nature of obligation, lenders, and default date. For investors and lenders, these disclosures provide a consistent, regulator-mandated snapshot of overdue principal and interest obligations, and identify the institutions involved. The repeated references to different cut-offs from late 2025 through mid-2026 show that the company’s default status was tracked and reported across multiple periods.

Market impact and what is confirmed from the filings

The confirmed market-relevant fact from the exchange disclosures is the quantum of default reported: ₹1,206.03 crore on term-loan instalments across eight lenders, with the default continuing beyond the 30-day threshold in the July 2026 filing. The disclosures also confirm the company’s ongoing CIRP status and the identification of the IRP. Beyond these points, the filings summarised in the provided text focus on compliance reporting and do not provide a resolution outcome or repayment schedule. Any assessment of recoveries, timelines, or restructuring would depend on separate CIRP updates and creditor process milestones, which are not included in the provided text.

Conclusion

Siti Networks’ regulatory disclosures to stock exchanges document term-loan instalment defaults aggregating ₹1,206.03 crore across eight lenders, reported under SEBI’s November 21, 2019 circular. The filings reference multiple default dates and cut-offs, including November 2025, January 2026, April 2026, and a June 30, 2026 default that continued beyond 30 days and was disclosed on July 31, 2026. The company has also confirmed it remains under CIRP, initiated on February 22, 2023, with Mr. Rohit Mehra acting as IRP. The next confirmed steps for investors to track would be any further exchange disclosures under the SEBI framework and any separate CIRP-related updates issued by the company.