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Siti Networks Limited (SITINET)

₹0.23 +0.00% last close, 16 Oct

📊 NSE: SITINET 🏢 Entertainment / Electronic Media Software 📢 Latest filing: 14 Oct 2026 📝 Analysis written: 14 Dec 2025

Latest quarterly results (Q2 FY26)

In its latest reported quarter, Q2 FY26, Siti Networks' revenue was ₹296 Cr (-2.3% year on year, +9.2% on the previous quarter), and net profit ₹-44.0 Cr (a smaller loss than a year earlier); the operating margin was -1.0%.

Q2 FY26 (₹ Cr)	Value	YoY vs Q2 FY25	QoQ
Revenue	₹296	-2.3%	+9.2%
Operating profit	₹-3.0	loss widened	loss widened
Net profit	₹-44.0	loss narrowed	—
EPS (₹)	-0.45	loss narrowed	loss narrowed
Operating margin	-1.0%	—	—

Full quarterly financials → Results calendar →

SITINET exchange data

NSE end-of-day data for Fri, 16 Oct 2026

It closed at its upper price band (circuit) on 16 Oct, one of 9 band closes in about the last 20 sessions.

₹0.23NSE close · +0.00%

Circuit stocks →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

NCLT Appoints Trupalkumar Patel as Resolution Professional for Siti Networks with 72% Voting

🟡 NEUTRAL ⭐ 4/10

LEGAL 📅 14 Oct 2026, 06:32 PM

The Mumbai Bench of the National Company Law Tribunal (NCLT) has approved the appointment of Mr. Trupalkumar Patel as the new Resolution Professional (RP) for Siti Networks Limited under Section 27 of the IBC. This replacement follows an IBBI disciplinary order dated August 6, 2026, which cancelled the registration of the prior RP. The Committee of Creditors approved Patel's appointment with a 72% voting majority during a joint lenders meeting held on September 16, 2026. The company remains severely distressed under CIRP with a net worth of -Rs 1,369 Cr and TTM debt of Rs 757 Cr.

NCLT issued order dated September 28, 2026 (received October 12, 2026) appointing Mr. Trupalkumar Patel as the Resolution Professional.
Appointment approved following a 72% majority vote by lenders in the Joint Lender Meeting held on September 16, 2026.
Prior RP registration was cancelled under IBBI disciplinary order No. IBBI/DC/338/2026 dated August 6, 2026, effective September 6, 2026.
The new RP's Authorisation for Assignment (AFA) is valid up to December 31, 2026.
Related applications I.A. 5322/2024 and IA 4455/2025 are scheduled to be listed on December 3, 2026.

💡 Track subsequent NCLT proceedings scheduled for December 3, 2026, and any progress regarding the formulation or voting on a resolution plan to determine whether the company can remain a going concern.

Siti Networks Submits Reg 74(5) Depository Compliance Certificate for Q2 Ended Sep 30, 2026

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 14 Oct 2026, 06:25 PM

Siti Networks Limited has submitted the quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate was issued by MUFG Intime India Private Limited (formerly Link Intime India Private Limited), the company's Registrar and Share Transfer Agent. It confirms that securities received for dematerialisation during the quarter were processed, confirmed/rejected, and cancelled within the prescribed timelines. This is a standard quarterly regulatory filing with no operational or financial impact.

Compliance certificate received under Regulation 74(5) of SEBI Regulations, 2018
Covers dematerialisation activities for the quarter ended September 30, 2026
Issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited on October 03, 2026
Confirmed that demat requests were verified, cancelled, and updated within stipulated timelines

💡 No action required; this is a routine administrative compliance filing. Investors should look out for upcoming quarterly financial results for business performance updates.

NCLT Appoints Trupalkumar Patel as Resolution Professional for Siti Networks

🔵 WATCH ⭐ 6/10

LEGAL 📅 13 Oct 2026, 09:12 PM

Siti Networks announced that the Hon'ble NCLT Mumbai Bench appointed Mr. Trupalkumar Patel as the Resolution Professional (RP) for the company via an order dated September 28, 2026 (received October 12, 2026). The company is undergoing Corporate Insolvency Resolution Process (CIRP) amidst acute financial stress, having reported a TTM net loss of Rs 200 Cr and a deeply negative net worth of Rs -1,369 Cr. The new RP replaces the previous interim management to oversee operations and steer the debt resolution process.

NCLT Mumbai Bench issued the appointment order on September 28, 2026, which was received on October 12, 2026
Mr. Trupalkumar Patel appointed as Resolution Professional under Registration No. IBBI/IPA-001/IP-P01186/2018-19/11907
Disclosure filed under Regulation 30 of SEBI LODR Regulations on October 13, 2026
Company continues under CIRP to address debt obligations of Rs 757 Cr and negative net worth of Rs -1,369 Cr

💡 Track subsequent CIRP developments, particularly calls for resolution plans, Committee of Creditors (CoC) voting outcomes, or liquidation risks.

Siti Networks Reports Rs 1,206.03 Cr Default Amid Ongoing Insolvency Process

🔴 NEGATIVE ⭐ 9/10

LEGAL 📅 01 Oct 2026, 06:30 PM

Siti Networks has disclosed an outstanding bank loan default of Rs 1,206.03 crore as of September 30, 2026, against total claims submitted of Rs 1,500.00 crore. The company remains under the Corporate Insolvency Resolution Process (CIRP) under the IBC. Additionally, Mr. Trupal J. Patel was approved as the new Resolution Professional by NCLT Mumbai on September 28, 2026, succeeding Mr. Rohit Mehra whose registration was cancelled. Multiple lender appeals regarding fund appropriations during previous stay periods remain pending before the Supreme Court.

Total loan amount outstanding and in default stands at Rs 1,206.03 crore as of September 30, 2026
Total claims submitted by financial creditors stood at Rs 1,500.00 crore, with Rs 1,206.03 crore admitted
NCLT Mumbai approved Mr. Trupal J. Patel as the new Resolution Professional on September 28, 2026, following the cancellation of Mr. Rohit Mehra's registration
Supreme Court has granted a stay to financial creditors regarding remitting amounts appropriated during the initial stay period

💡 Track the outcome of the financial creditors' appeal before the Hon'ble Supreme Court and the resolution plan developments under the newly appointed Resolution Professional.

Siti Networks Reports Total Debt Default of ₹1,500 Cr; New Resolution Professional Appointed

🔴 NEGATIVE ⭐ 9/10

REGULATORY 📅 01 Oct 2026, 06:29 PM

Siti Networks Limited has disclosed ongoing loan defaults continuing beyond 30 days as of August 31, 2026, with total bank and institutional debt claims amounting to ₹1,500 crore (as of August 10, 2023). This debt burden significantly dwarfs the company's current market cap of ₹24 crore and TTM revenue of ₹1,135 crore. Additionally, NCLT Mumbai approved the appointment of Mr. Trupal J. Patel as the new Resolution Professional on September 28, 2026, succeeding Mr. Rohit Mehra whose registration was canceled. Legal proceedings regarding remittances by financial creditors during the stay period remain subject to an ongoing Supreme Court stay.

Total outstanding borrowing claims from banks and financial institutions stood at ₹1,500 crore as of August 10, 2023
Defaults on term loan installments across lenders (including ARCIL, IDBI Bank, Axis Bank) continued beyond 30 days as of August 31, 2026
Largest claimed amounts include ARCIL at ₹340 crore and Axis Bank at ₹298 crore
NCLT Mumbai approved Mr. Trupal J. Patel as the new Resolution Professional on September 28, 2026
Supreme Court granted stay on remittance orders regarding funds appropriated by financial creditors during CIRP stay period

💡 Monitor legal proceedings before the Supreme Court and subsequent resolution plans or liquidation steps under the newly appointed Resolution Professional.

Siti Networks Discloses Continued Debt Default of ₹1,500 Cr Under Ongoing CIRP

🔴 NEGATIVE ⭐ 5/10

REGULATORY 📅 31 Aug 2026, 06:46 PM

Siti Networks Limited reported continued defaults on term loan obligations as of July 31, 2026, with total creditor claims standing at ₹1,500 crore as on August 10, 2023. The company remains under the Corporate Insolvency Resolution Process (CIRP) initiated in February 2023, with the powers of the Board of Directors suspended and vested in the Resolution Professional. Key financial creditors include ARCIL (₹340 crore), Axis Bank (₹298 crore), Aditya Birla Finance (₹182 crore), and IDBI Bank (₹180 crore). Furthermore, NCLT Mumbai on August 27, 2026, directed the inclusion of Vani Agencies Pvt Ltd (claim of ₹148 crore) in the Committee of Creditors.

Total financial claims submitted by lenders stand at ₹1,500 crore (as on August 10, 2023) across 8 institutional lenders.
Major debt holders include ARCIL (₹340 crore), Axis Bank (₹298 crore), ABFL (₹182 crore), and IDBI Bank (₹180 crore).
Default date is marked as July 31, 2026, continuing beyond the 30-day reporting threshold.
NCLT Mumbai order dated August 27, 2026, allowed Vani Agencies Pvt Ltd (assigned ₹148 crore claim from ZEEL) entry into the Committee of Creditors with proportionate voting rights.

💡 Track the ongoing CIRP proceedings before NCLT/Supreme Court and monitor for any submission or approval of a resolution plan.

Siti Networks reports zero demat requests for quarter ended June 30, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 31 Jul 2026, 06:40 PM

Siti Networks Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The company's Registrar and Share Transfer Agent, MUFG Intime India Private Limited, confirmed that no requests for dematerialization were received from shareholders during the quarter ended June 30, 2026. This is a standard administrative filing required to maintain the integrity of the depository records and listing status.

Zero requests received from shareholders for dematerialization during the quarter ended June 30, 2026
Compliance certificate issued by MUFG Intime India Private Limited (formerly Link Intime India)
Filing submitted to exchanges on July 31, 2026, as per regulatory timelines
Confirmation that security certificates received in previous periods (if any) were mutilated and cancelled

💡 No action required. This is a routine procedural filing. Investors should focus on the company's upcoming quarterly financial results for operational updates.

₹1,500 Cr Indebtedness: Siti Networks Reports Continued Default on Bank Loans

🔴 NEGATIVE ⭐ 9/10

LEGAL 📅 31 Jul 2026, 04:11 PM

Siti Networks Limited has reported a continuing default on its term loan installments as of June 30, 2026. The total financial indebtedness, based on claims submitted during the ongoing Corporate Insolvency Resolution Process (CIRP), stands at ₹1,500 crore. This debt is approximately 53 times the company's current market capitalization of ₹28 crore. The company remains under the management of a Resolution Professional with a deeply negative net worth of -₹1,369 crore, and the matter is currently pending before the Supreme Court regarding fund remittances.

Total financial indebtedness reported at ₹1,500 crore as of August 10, 2023, across 8 major lenders.
Default on term loan installments occurred on June 30, 2026, and has persisted beyond the 30-day disclosure threshold.
Major creditors include ARCIL (₹340 crore), Axis Bank (₹298 crore), and Aditya Birla Finance (₹182 crore).
Company is currently under CIRP as per NCLT order dated February 22, 2023, with a negative net worth of -₹1,369 crore.
Supreme Court has granted a stay to financial creditors regarding the remittance of amounts received during the CIRP stay period.

💡 Investors should closely monitor the Supreme Court's final judgment on fund remittances and the Resolution Professional's progress in the CIRP process, as equity value is at extreme risk of total wipeout.

Siti Networks Appoints Vijaya Gupta & Co. as New Statutory Auditor Amid Ongoing CIRP

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 07 Jul 2026, 12:59 PM

Siti Networks Limited, currently undergoing Corporate Insolvency Resolution Process (CIRP), has appointed M/s. Vijaya Gupta & Co. as its new statutory auditor effective July 6, 2026. This appointment follows the resignation of the previous auditor, M/s. DNS & Associates, and has been approved by the Committee of Creditors (CoC). The new auditor will oversee the statutory audits for FY 2025-26 and FY 2026-27. The company remains in deep financial distress with a negative net worth of ₹1,369 Cr and TTM losses of ₹200 Cr.

Appointment of M/s. Vijaya Gupta & Co. as Statutory Auditor effective July 6, 2026
Audit scope covers full financial years 2025-26 and 2026-27
Company has been under CIRP since the NCLT order dated February 22, 2023
Accumulated losses reported at approximately ₹2,903.89 Cr as per financial context
Previous auditor M/s. DNS & Associates resigned from the position

💡 Investors should focus on the progress of the insolvency resolution process (CIRP) rather than this administrative change, as the company's 'going concern' status remains highly uncertain.

₹1,206.03 Cr Default: Siti Networks Reports Total Indebtedness Under Ongoing CIRP

🔴 NEGATIVE ⭐ 9/10

REGULATORY 📅 02 Jul 2026, 12:57 PM

Siti Networks Limited has reported a total financial indebtedness and default of ₹1,206.03 crore as of June 30, 2026. The company is currently undergoing Corporate Insolvency Resolution Process (CIRP) which was initiated on February 22, 2023. Legal proceedings are ongoing, with the Supreme Court recently staying an NCLAT order that required lenders to remit funds back to the company. With a negative net worth of ₹1,369 crore and TTM losses of ₹200 crore, the company's status as a 'going concern' remains highly dependent on the insolvency outcome.

Total outstanding loan amount and default stands at ₹1,206.03 crore as of June 30, 2026.
Default amount represents approximately 106% of the company's TTM revenue of ₹1,135 crore.
CIRP remains active following the NCLAT's dismissal of appeals against the insolvency admission on August 10, 2023.
Supreme Court has granted a stay on the remittance of funds by financial creditors that were appropriated during the previous stay period.
Company is currently managed by Resolution Professional Rohit Mehra with board powers suspended.

💡 Investors should closely monitor the Supreme Court's final verdict on fund remittance and the Resolution Professional's progress in inviting and finalizing a resolution plan for the company.

₹1,206 Cr Default: Siti Networks Reports Continued Loan Payment Failures Under CIRP

🔴 NEGATIVE ⭐ 8/10

REGULATORY 📅 30 Jun 2026, 11:14 PM

Siti Networks Limited has reported a continuing default on its term loan obligations as of May 31, 2026. The total financial indebtedness stands at ₹1,206.03 crore, which exceeds the company's TTM revenue of ₹1,135 crore. The company is currently undergoing Corporate Insolvency Resolution Process (CIRP) with its board suspended and operations managed by a Resolution Professional. Legal proceedings are currently active in the Supreme Court regarding the remittance of funds by lenders during previous stay periods.

Total financial indebtedness reported at ₹1,206.03 crore as per claims submitted by August 10, 2023.
Default on term loan installments occurred on May 31, 2026, and has persisted for over 30 days.
Major lender claims include ARCIL at ₹364.77 crore and Axis Bank at ₹240.85 crore.
Vani Agencies Pvt. Ltd. (a related party) holds an admitted financial debt claim of ₹148.00 crore.
The company reports a negative net worth of ₹1,369 crore, highlighting severe capital erosion.

💡 Investors should monitor the Supreme Court's final judgment regarding the remittance of funds by lenders and the progress of the Resolution Professional in the CIRP process.

Siti Networks Closes Trading Window from July 1, 2026, for Q1 FY27 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 30 Jun 2026, 11:10 PM

Siti Networks Limited has announced the closure of its trading window for designated persons starting July 1, 2026, in compliance with SEBI Insider Trading regulations. This closure is in anticipation of the un-audited financial results for the first quarter ending June 30, 2026. The window will remain closed until 48 hours after the results are officially declared. This is a standard regulatory procedure for a company currently undergoing the Corporate Insolvency Resolution Process (CIRP) with a reported negative net worth of ₹1,369 Cr.

Trading window closure begins on July 1, 2026, for all designated persons.
The closure pertains to the un-audited financial results for the quarter ending June 30, 2026.
The window will reopen 48 hours after the results are announced to the exchanges.
Company is currently under CIRP with a TTM net loss of ₹200 Cr and negative net worth of ₹1,369 Cr.

💡 Monitor the official announcement of Q1 FY27 results and any progress reports from the Resolution Professional regarding the insolvency process.

Siti Networks Reports ₹1,206 Crore Default; Remains Under Insolvency Resolution

🔴 NEGATIVE ⭐ 9/10

LEGAL 📅 01 Jun 2026, 01:05 PM

Siti Networks Limited has disclosed a continued default on its term loan obligations, with total financial indebtedness reaching approximately ₹1,206.03 crore as of August 2023. The company is currently undergoing the Corporate Insolvency Resolution Process (CIRP), and its Board of Directors remains suspended. Major creditors include ARCIL (₹364.77 crore) and Axis Bank (₹240.85 crore). Legal proceedings are ongoing in the Supreme Court regarding the treatment of funds appropriated by lenders during previous stay periods of the insolvency process.

Total financial indebtedness and claims admitted stand at ₹1,206.03 crore across eight major lenders.
Largest individual claims are held by ARCIL at ₹364.77 crore and Axis Bank at ₹240.85 crore.
The company has been under CIRP since February 22, 2023, following NCLT and NCLAT orders.
The Supreme Court has currently stayed a lower court order that required financial creditors to remit certain funds back to the company.
Powers of the Board of Directors remain suspended and are vested in the Resolution Professional, Mr. Rohit Mehra.

💡 Investors should be extremely cautious as the company is in active insolvency proceedings, which often leads to significant equity dilution or total loss for retail shareholders. Monitor the Supreme Court's final judgment and the progress of the resolution plan for any recovery prospects.

SITI Networks Confirms Non-Large Corporate Status; Reports ₹1,206 Cr Borrowings

🔵 WATCH ⭐ 6/10

REGULATORY 📅 30 Apr 2026, 10:25 PM

SITI Networks Limited has filed a regulatory undertaking confirming it does not meet the SEBI criteria for a 'Large Corporate'. The company is currently undergoing the Corporate Insolvency Resolution Process (CIRP), with its Board of Directors suspended and management controlled by a Resolution Professional. Outstanding borrowings based on claims submitted as of August 10, 2023, are reported at ₹1,206.03 crore. Legal proceedings continue in the Supreme Court regarding the treatment of funds and creditor payments during the insolvency stay period.

Confirmed non-applicability of Large Corporate framework as per SEBI circular criteria.
Outstanding borrowings reported at ₹1,206.03 crore as of August 10, 2023, based on creditor claims.
Company remains under Corporate Insolvency Resolution Process (CIRP) with the Board of Directors suspended.
Supreme Court has granted a stay on financial creditors remitting amounts received during the CIRP stay period.
Insolvency commencement date is fixed at February 22, 2023, following NCLT and NCLAT rulings.

💡 Investors should remain extremely cautious as the company is in insolvency proceedings and the Board is suspended. Monitor the Supreme Court's final decision on fund remittances and the progress of the resolution plan which will determine any residual value for shareholders.

Siti Networks Defaults on Loans Worth ₹1,500 Crore; CIRP Process Continues

🔴 NEGATIVE ⭐ 9/10

LEGAL 📅 30 Apr 2026, 06:51 PM

Siti Networks Limited has reported a continued default on term loan installments as of March 31, 2026. The total claims submitted by financial creditors have reached ₹1,500 crore, involving major lenders like ARCIL (₹340 crore), Axis Bank (₹298 crore), and IDBI Bank (₹180 crore). The company is currently undergoing the Corporate Insolvency Resolution Process (CIRP), and the powers of the Board of Directors remain suspended. Legal battles continue in the Supreme Court regarding the remittance of funds appropriated by lenders during previous stay periods.

Total financial indebtedness based on claims submitted stands at ₹1,500 crore as of August 10, 2023.
Major creditors include ARCIL (₹340 cr), Axis Bank (₹298 cr), ABFL (₹182 cr), and IDBI Bank (₹180 cr).
Company is under CIRP since February 22, 2023, with Rohit Mehra acting as the Resolution Professional.
Supreme Court has currently granted a stay to financial creditors from remitting amounts received during the CIRP stay period.
A related party claim from ZEEL, assigned to Vani Agencies Pvt Ltd for ₹148 crore, has been admitted as financial debt.

💡 Investors should be extremely cautious as the company is in insolvency proceedings, which often leads to significant equity dilution or total loss for shareholders. Monitor the Supreme Court's final ruling and the progress of the resolution plan.

View All SITINET Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue from operations for Q1 FY26 was INR 2,706.76 million, representing a 12.2% YoY decline from INR 3,083.06 million in Q1 FY25. The company operates in a single business segment of cable and broadband distribution.

Geographic Revenue Split

The company operates predominantly in a single business segment of cable and broadband distribution only in India, representing 100% of its geographic revenue contribution.

Profitability Margins

The company reported a consolidated net loss of INR 437.64 million for Q1 FY26, compared to a loss of INR 440.27 million in Q1 FY25. Standalone net loss for Q1 FY26 was INR 437.39 million. Net profit margin is significantly negative due to high operational and finance costs.

EBITDA Margin

Historical Q3 FY19 data showed an operating EBITDA of INR 930 million with a margin of 24.5%. However, for Q1 FY26, the company is operating at a loss before tax and exceptional items of INR 431.90 million (Consolidated), indicating a negative EBITDA margin.

Capital Expenditure

Not disclosed in available documents. The company is currently under Corporate Insolvency Resolution Process (CIRP), which restricts major capital expenditure.

Credit Rating & Borrowing

The company is under CIRP as per NCLT order dated February 22, 2023. Finance costs for Q1 FY26 were INR 241.40 million (Consolidated), representing approximately 8.9% of revenue from operations.

⚙️ Operational Drivers

Raw Materials

Pay channel costs (content acquisition) represent the primary operational cost, totaling INR 1,765.34 million in Q1 FY26, which is 65.2% of revenue from operations.

Import Sources

Not disclosed in available documents. Content is sourced from various domestic and international broadcasters operating within India.

Key Suppliers

Broadcasters (unnamed in documents) supply the pay channel content which constitutes the bulk of operational expenses.

Capacity Expansion

Not disclosed in available documents. Current focus is on maintaining operations under the Resolution Professional during the insolvency process.

Raw Material Costs

Pay channel costs were INR 1,765.34 million in Q1 FY26, down 11.4% YoY from INR 1,991.84 million in Q1 FY25. Procurement involves agreements with broadcasters for channel carriage and subscription sharing.

Manufacturing Efficiency

Not applicable as the company is a service provider. Historical SNL Subscription Collection Efficiency was reported at 94% in Q3 FY19.

Logistics & Distribution

Distribution costs are part of 'Other expenses' which were INR 816.53 million in Q1 FY26, representing 30.2% of revenue from operations.

📈 Strategic Growth

Growth Strategy

The company is currently managed by a Resolution Professional (Rohit Mehra) under CIRP. Growth is constrained by insolvency; the primary strategy is to maintain the 'going concern' status and resolve accumulated losses of INR 29,038.94 million (Group) through the NCLT process.

Products & Services

Cable TV distribution services and Broadband internet services.

Brand Portfolio

SITI Networks, Siti Broadband.

Strategic Alliances

The group includes 23 subsidiaries, such as Indian Cable Net Company Limited and Siti Vision Digital Media Private Limited, and various associates/joint ventures.

🌍 External Factors

Industry Trends

The industry is shifting from traditional cable to broadband-heavy and OTT-integrated models. SITI is struggling to transition due to its negative net worth of INR 13,380.37 million and negative working capital of INR 17,278.93 million.

Competitive Landscape

Key competitors include other Major Multi-System Operators (MSOs), DTH providers, and emerging fiber-to-the-home (FTTH) players like JioFiber.

Competitive Moat

Moat is based on its established distribution network and 23 subsidiaries, but this is currently unsustainable due to the disclaimer of opinion by auditors and the ongoing CIRP.

Macro Economic Sensitivity

Sensitive to Indian economic growth and consumer discretionary spending on entertainment and internet services.

Consumer Behavior

Shift toward on-demand content (OTT) and high-speed broadband is reducing traditional cable TV demand.

⚖️ Regulatory & Governance

Industry Regulations

Operations are governed by TRAI regulations and SEBI Listing Regulations. The company is currently facing delays in compliance, such as the delay in holding its Annual General Meeting and filing Q2 FY26 results.

Taxation Policy Impact

The company has not recorded current or deferred tax expenses for Q1 FY26 due to significant accumulated losses.

Legal Contingencies

The company is under CIRP with ongoing litigations before NCLT Mumbai. One subsidiary, Siti Broadband Services Private Limited, is also under CIRP. Accumulated losses stand at INR 30,315.66 million (Standalone).

⚠️ Risk Analysis

Key Uncertainties

The primary uncertainty is the outcome of the CIRP and whether the company can remain a 'going concern' given its negative net worth of INR 13,380.37 million.