'Govt will pay bond interest dues of MTNL, there will be no default
Millennium Post Delhi|15 July 2024
The government will pay the bond dues of ailing Mahanagar Telephone Nigam Ltd (MTNL), a DoT source said assuring that there will be no default, and that the amount will be paid before the due date of July 20.
'Govt will pay bond interest dues of MTNL, there will be no default

The move assumes significance as it would avert a looming crisis for the telecom corporation which is being seen teetering on the brink with regard to its debt obligations that are becoming due. All eyes are on MTNL, ever since the debt-laden firm last week expressed its inability to make interest payments to certain bondholders due to paucity of funds.

Telecom Department sources said that the government will step in and pay the said dues, and asserted that there won’t be any default on the same.

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