{"id":36266,"date":"2022-04-15T19:25:19","date_gmt":"2022-04-15T13:55:19","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-siti-network\/"},"modified":"2022-04-15T21:14:17","modified_gmt":"2022-04-15T15:44:17","slug":"biz-siti-network","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-siti-network\/","title":{"rendered":"HDFC moved NCLT against SITI Networks claiming default of Rs 296 cr"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3097425114\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>       New Delhi, Apr 15 (PTI) Housing Development Finance Corporation Ltd (HDFC) has moved insolvency tribunal NCLT against the country&#8217;s leading multi-system operator SITI Networks Ltd for an alleged default of Rs 296 crore.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-558003936\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>        SITI Networks has received a notice issued by the Mumbai bench of the National Company Law Tribunal over the petition filed by HDFCL, the Essel group firm said in a regulatory filing on Thursday.<\/p>\n<p>        &#8220;The company has received the notice of the said case on April 13, 2022,&#8221; the Essel group firm said adding it &#8220;is compiling information to verify the facts claimed in the said petition filed by HDFC.<\/p>\n<p>        HDFC, in the petition filed under Section 7 of the Insolvency and Bankruptcy Code (IBC), has claimed a total default of Rs 296.06 crore, with respect to the financial facility provided by it.<\/p><div class=\"trade-content_5\" id=\"trade-7220705\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>        &#8220;In the said petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 read with Rule 4 of the Insolvency and Bankruptcy Rules, 2016, HDFC has allegedly claimed that the total amount in default with respect to the financial facility is Rs 296,06,48,008\/- as on January 31, 2022,&#8221; it said.<\/p>\n<p>        Earlier on March 30, 2022, SITI Networks had informed the exchanges that it had been made aware about a petition filed before the NCLT by HDFC.<\/p>\n<p>        SITI Networks, formerly known as SITI Cable Network, is a part of the Essel Group.<\/p>\n<p>        It provides its cable services in at 580 locations and adjoining areas, reaching out to over 11.3 million digital customers. PTI KRH MR  MR<\/p>\n<div class=\"trade-after-content\" id=\"trade-1834859922\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Apr 15 (PTI) Housing Development Finance Corporation Ltd (HDFC) has moved insolvency tribunal NCLT against the country&#8217;s leading multi-system operator SITI Networks Ltd for an alleged default of Rs 296 crore. SITI Networks has received a notice issued by the Mumbai bench of the National Company Law Tribunal over the petition filed by [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-36266","post","type-post","status-publish","format-standard","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>HDFC moved NCLT against SITI Networks claiming default of Rs 296 cr - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-siti-network\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HDFC moved NCLT against SITI Networks claiming default of Rs 296 cr\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Apr 15 (PTI) Housing Development Finance Corporation Ltd (HDFC) has moved insolvency tribunal NCLT against the country&#8217;s leading multi-system operator SITI Networks Ltd for an alleged default of Rs 296 crore. 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