New Delhi: State-run telecom firm MTNL on Thursday said it has again failed to repay bond payment due on August 24.
The state-owned telecom firm did not disclose the amount.
MTNL in a regulatory filing that its fourth semi-annual interest of 7.61 per cent MTNL Bond Series VIIIB is due on
August 24.
As per the structured payment mechanism of tri-partite agreement (TPA) signed among MTNL, Department of Telecommunications (DoT) and Beacon Trusteeship Ltd, MTNL has to fund the semi-annual interest into the escrow account maintained in Bank of India with adequate amount 10 days before the due date.
“In view of above provisions of TPA, it is informed that due to insufficient funds MTNL could not fund the ESCROW Account maintained in Bank of India with the adequate amount,” the filing said.