Siti Networks
0.46
0.00(0.00%)
Market Cap₹40.10 Cr
PE Ratio-0.20
IndustryMedia
Company Performance:
1D0.00%
1M-6.12%
6M-16.36%
1Y-51.06%
5Y-51.58%
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Latest news about Siti Networks
NCLAT Orders Banks to Refund ₹143 Crore to SITI Networks, Upholds Moratorium Aug 01, 2025
The National Company Law Appellate Tribunal (NCLAT) has dismissed appeals by several major banks against Siti Networks Limited, ordering them to return ₹143.15 crore withdrawn during a stay period on insolvency proceedings. The tribunal ruled that the moratorium remained in effect despite the stay order, emphasizing that insolvency proceedings are 'in rem' and continue even during stay periods. The banks, including Axis Bank, Aditya Birla Capital, IDBI Bank, IndusInd Bank, and RBL Bank, must refund the withdrawn amounts with accrued interest to Siti Networks' corporate debtor account.