Siti Networks Ltd

RP appointment under CIRP

• NCLT approves appointment of Trupalkumar Patel as RP of Siti Networks Limited.
• IBBI cancelled existing RP registration; effective 06.09.2026.
• Joint Lender Meeting on 16.09.2026 approved Patel as RP with 72% voting.
• Patel's IP registration: IBBI/IPA-001/IP-P01186/2018-19/11907.
• AFA valid up to 31.12.2026.
• IA 5322/2024 disposed; hearing listed for 03.12.2026.

Dematerialisation status

• Dematerialisation requests received during quarter ended 30 Sep 2026 were processed and listed on exchanges.
• Physical certificates for dematerialisation were mutilated, cancelled after verification, and depository name substituted as registered owner within timelines.

Resolution Professional appointment

• NCLT Mumbai Bench ordered RP appointment on 28 Sep 2026.
• RP IP Registration No: IBBI/IPA-001/IP-P01186/2018-19/11907.
• Order received by the company on 12 Oct 2026.
• Annexure A attached with the disclosure.
• Disclosure under Regulation 30 of SEBI Listing Regulations 2015.

Default details

• Nature of defaulted obligation: Term loan instalments.
• Lenders: ARCIL, IDBI Bank, RBL, Axis Bank, ABFL, IndusInd Bank, Vani Agencies Pvt. Ltd., ICNCL.
• Date of default: July 31, 2026.
• Current default amount: Principal 1,206.03 crore; Interest not disclosed.
• Total principal amount: 1,206.03 crore; tenure/interest/secured status not disclosed.
• Total outstanding borrowings from banks/financial institutions: 1,206.03 crore.
• Total financial indebtedness: 1,206.03 crore.
• Insolvency updates: CIRP admitted; IRP appointed; moratorium applicable.

Insolvency proceedings status

• CIRP reinstated; IRP Rohit Mehra; board powers suspended.
• Stay on remittances; Supreme Court stay; 31 July 2025 NCLAT dismissal of appeals.

Siti Networks Ltd: Trading Window closed from July 1, 2026 until 48 hours after the announcement of Un-Audited Financial Results for the first quarter of FY2026-27 (three months ending June 30, 2026).