State-run PNB expects MTNL debt resolution in 4 months

According to stock exchange disclosures, MTNL first defaulted on loans on 30 June 2024

- Anshika Kayastha & Shayan Ghosh

State-owned telecom operator Mahanagar Telephone Nigam Ltd's (MTNL) debt resolution is expected in the next 3-4 months, a top official of one of its lenders said on Thursday.

While there is no specific update at the moment, several discussions are underway regarding the resolution of the company's loan account and it will take some time for all stakeholders to "crystallize the entire issue", Ashok Chandra, managing director and chief executive, Punjab National Bank (PNB), said in an interview.

"We are looking for some resolutions to happen in that account and some discussions are happening at different levels...definitely something is going to happen in another 3-4 months' time," said Chandra.

MTNL was set up in 1986 and provides fixed-line telecommunication services in New Delhi and Mumbai. Its public-sector peer BSNL provides services in the rest of the country. MTNL owes ₹474.66 crore to PNB.