The arrests were made after police and MTNL (Mahanagar Telephone Nigam) officials conducted a raid at SV Road when the gang was busy removing the underground cables

Mahanagar Telephone Nigam Ltd (MTNL) has defaulted on loan repayments worth 86.59 billion rupees ($990.48 million) to a group of seven public sector banks, the state-run telecom company said on Monday. In July, MTNL had disclosed defaults of 85.85 billion rupees to the same lenders. The default includes 77.94 billion rupees in principal and 8.65 billion rupees in overdue interest to lenders including Union Bank of India, Bank of India, Punjab National Bank and State Bank of India. The debt-laden operator, which has long struggled with falling subscriber numbers, mounting losses and shrinking relevance in India’s highly competitive telecom market, has been surviving largely on government support and debt roll-overs. India’s MTNL defaults on $1 billion of loans from seven public sector banks MTNL’s total debt has risen to 345.77 billion rupees ($3.96 billion) as of July 31, from 344.84 billion rupees in June-end, which also includes sovereign-guaranteed bonds and loans from the Department Of Telecommunications.

Thirteen individuals have been arrested in Mumbai's Sion area for allegedly attempting to pilfer copper cables owned by the Mahanagar Telephone Nigam Limited (MTNL), according to a local police report on Saturday.

Mahanagar Telephone Nigam Ltd (MTNL) has defaulted payments amounting to Rs 8,585 crore of both principal and interest to seven major public sector banks, the state-run company said in an exchange filing. The seven lender banks include Union Bank of India, Bank of India, Punjab National Bank, State Bank of India, UCO Bank, Punjab and Sind Bank, and Indian Overseas Bank.According to the filing, the defaulted amounts of the Union Bank of India sum to Rs 3,733.22 crore, the Bank of India Rs 1,121.09 crore, the Punjab National Bank Rs 474.66 crore and the State Bank of India Rs 363.43 crore.The company added that it has defaulted on Rs 273.58 crore of dues to UCO Bank, Rs 184.82 crore to Punjab and Sind Bank and Rs 2,434.13 crore to Indian Overseas Bank, the filing shows.The loss-making MNTL's total debt obligations reached Rs 34,484 crore as of June 30, 2025. This includes Rs 24,071 crore of sovereign guarantee (SG) bonds and a Loan for DoT for paying SG Bond Interest of Rs 18,28 Crore, according to the filing.

BENGALURU: India’s Mahanagar Telephone Nigam has defaulted on loans totaling 85.85 billion rupees ($1 billion), the public-sector telecom firm said on Tuesday. The loans were made by seven public sector, with Union Bank of India and Indian Overseas Bank having the biggest exposure, MTNL said in an exchange filing.

The initiative was started by two visually impaired retired government servants, Anil Divate (66), a former employee of the Bank of India, and Namruta Patkar (65) from Mahanagar Telephone Nigam Ltd (MTNL).

NEW DELHI (Reuters) -The Indian government has sought parliament's approval to spend an additional 514.63 billion rupees ($5.90 billion) on a net basis for the current financial year ending March 31, according to a statement released on Monday. India is seeking approval to spend 53.2 billion rupees to upgrade telecom networks in underserved areas, and pay dues to employees of state-run Bharat Sanchar Nigam Ltd and Mahanagar Telephone Nigam Ltd, the statement said. The government has also sought approval to make a provision of 70 billion rupees for the new Unified Pension Scheme for federal government employees that rolls out from April 1, 2025.