MTNL Misses Interest Deposit Deadline on Sovereign Guarantee Bonds

State-owned MTNL has failed to deposit the semi-annual interest due on sovereign guarantee bonds into the escrow account by the March 24, 2026 deadline, citing insufficient funds. Under the Tri-Partite Agreement involving MTNL, the Department of Telecommunications, and Beacon Trusteeship Limited, the company must fund this account 10 days before the due date. MTNL noted that the bonds are backed by a sovereign guarantee, obliging the Government of India to cover payments if MTNL defaults.