SITI Networks

News Summary:

On April 30, 2026, SITI Networks disclosed defaults on loan repayments totaling ₹1206.03 crore to multiple financial institutions as of March 31, 2026, in compliance with SEBI regulations for reporting payment defaults. Previously, on April 22, 2026, the company received certificates from MUFG Intime India Private Limited, its Registrar and Share Transfer Agent, confirming the processing of securities for dematerialization as per Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. This followed the company's April 8, 2026, disclosure of its un-audited financial results for the second quarter and half year ended September 30, 2025. For this period, SITI Networks reported a net loss of ₹310.97 million for the quarter and ₹748.34 million for the six months. Its accumulated losses reached ₹30626.63 million, resulting in a negative net worth of ₹13691.34 million. Additionally, current liabilities exceeded current assets by ₹17527.75 million, leading to negative working capital. The company is currently undergoing a Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016, with its future contingent on the successful implementation of a resolution plan. During the CIRP, the Resolution Professional began receiving claims from financial, operational, employee, and other creditors, and the company filed a petition with the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) for the restoration of Zee Entertainment Enterprises Limited signals on its network.