SITI Networks has defaulted total Rs 913 crore on payments of interest and repayment of principal amount on loans taken from banks for the quarter ended in September (Q2 FY23). This includes a principal amount of Rs 655 crore and interest of Rs 258 crore. The company is in discussions with its bankers for restructuring of its debt obligations.
SITI Networks is a part of the Essel Group, which is one of India's leading business houses with a diverse portfolio of assets in media, packaging, entertainment, technology-enabled services, infrastructure development and education.
