Mtnl loan default: An important cabinet meeting has been called by banks on Friday after MTNL’s loan default. There will be an important meeting to protect the company from the action of banks. According to sources, the Department of Telecommunications has given 2 to 3 options. This important meeting has been called to prevent bank action on loan omission. MTNL has a total debt of Rs 32,000 crore. The company owes banks loan of Rs 8,346 crore. The Department of Telecommunications has given 2 to 3 options to solve this problem.
You also have the option to persuade banks to cut. It is also proposed to take the matter to NCLT. Apart from this, it is also proposed to send all the properties to the Ministry of Home Affairs. Let us tell you that even after getting a bailout package from the government, the Mahanagar Telephone Corporation Limited (MTNL) is continuously paying loans. Now once again the government has extended the help of help to save the company from bankruptcy.
For this, there will be a meeting with public sector banks led by Cabinet Secretary TV Somathan on 16 May. In this meeting, an effort will be made to ensure that no action is taken against the company by the bank after the loan lapse. Cabinet Secretary will also be present in this meeting along with Economic Affairs Secretary Ajay Seth, Finance Secretary M Nagaraju, Expenditure Secretary V Vualanam, Telecom Secretary Neeraj Mittal. Apart from this, heads of banks lending to MTNL will also participate in this meeting.
Earlier in a filing filed on April 19, MTNL said that it had not paid a loan of about Rs 8,346 crore. This loan was taken from 7 public sector banks. The company made this mistake in the period from August 2024 to February 2025. By 31 March 2025, MTNL had a total loan of Rs 33,568 crore. Its interest of Rs 8,346 crore has not been paid, due to which it has been defaulted.
If you look at the move of MTNL shares, this stock is currently trading at Rs 42.05 with a gain of Rs 0.66, or 1.59 per cent. Today its highest level of day was 43.20 paise. At the same time, today its minimum price is ₹ 41.36. The highest value of the 52-week of this stock is Rs 101.93 and the minimum price is Rs 32.55. The trading volume of this stock is around 2,957,986 shares.
