Latest news about Siti Networks
Siti Networks
0.33
0.00(0.00%)
Company Performance:
View Company Insights1D0.00%
1M-5.71%
6M-21.43%
1Y-32.65%
5Y-67.00%
More news about Siti Networks
11Dec 25
Siti Networks Limited Delays Q2FY26 Financial Results Due to Ongoing CIRP Process
Siti Networks Limited has explained to BSE the delay in Q2FY26 financial results submission due to ongoing Corporate Insolvency Resolution Process initiated in February 2023, which suspended Board powers and transferred management to Resolution Professional. Key challenges include resignations from finance and audit teams, complex CIRP alignment requirements, and delays from 23 subsidiary companies including one under separate CIRP. The company expects to submit results by January 31, 2026, while maintaining commitment to regulatory compliance.
10Nov 25
SITI Networks Reports ₹437.64 Million Loss Amid Ongoing Insolvency Process
Siti Networks Limited, undergoing Corporate Insolvency Resolution Process (CIRP), reported a standalone net loss of ₹437.64 million for Q1, an improvement from ₹530.17 million loss in Q4. Revenue from operations slightly declined to ₹799.55 million. The company faces financial challenges with negative net worth of ₹13,380.37 million and negative working capital of ₹17,278.93 million. Auditors disclaimed their opinion, citing uncertainties related to insolvency proceedings and ongoing litigations. Despite challenges, management prepared financial statements on a going concern basis.
01Aug 25
NCLAT Orders Banks to Refund ₹143 Crore to SITI Networks, Upholds Moratorium
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has dismissed appeals by several major banks against Siti Networks Limited, ordering them to return ₹143.15 crore withdrawn during a stay period on insolvency proceedings.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 The banks, including Axis Bank, Aditya Birla Capital, IDBI Bank, IndusInd Bank, and RBL Bank, must refund the withdrawn amounts with accrued interest to Siti Networks' corporate debtor account.
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