Updates

June 30, 2026 The General Manager The Manager Corporate Relationship Department Listing Department BSE Limited National Stock Exchange of India limited Phiroze Jeejeeboy Towers Plaza, 5th Floor, Plot no. C/1, G Block Dalal Street, Fort, Bandra Kurla Complex, Bandra (E) Mumbai- 400 001 Mumbai- 400 051 BSE Scrip Code: 532795 NSE Scrip Symbol: SITINET Kind Attn. : Corporate Relationship Department Subject : Disclosure in compliance with Para 3(C1) of SEBI Circular No. SEBI/HO/CFD/CMD1/CIR/2019/140 dated November 21, 2019, of default on payment of interest/repayment of principal amount on loans from Bank(s) Dear Sir, This is in reference to the SEBI Circular No. SEBI/HO/CFD/CMD1/CIR/2019/140 dated November 21, 2019, regarding disclosure of defaults on payment of interest/repayment of principal amount on loans from Bank(s). In compliance with Para 3(C1) of above referred SEBI Circulars, details pertaining to default(s) effected in payment of loans and interest thereon from Bank(s) are as follows: Sl. Type of Disclosure Details 1. Name of the Listed Entity Siti Networks Limited 2. Date of making the disclosure June 30, 2026 3. Nature of obligation Term loan instalments 4. Name of the Lender(s) ARCIL, IDBI Bank, RBL, Axis Bank, ABFL, IndusInd Bank, Vani Agencies Pvt. Ltd.*, ICNCL 5. Date of default May 31, 2026 (i.e. default of May 31, 2026 and continues beyond 30 days) 6. Current default amount (break-up of As per table below principal and interest in INR crore) 7. Details of obligation (total principal amount in INR crore, tenure, interest Amount of Amount of Claim rate, secured / unsecured, etc.) Claim Sl. submitted as on Bank submitted as No 22nd February on 10th August 2023 2023 1 Axis Bank Limited (Axis 240.85 298 Bank) 2 Asset Reconstruction Company India Limited 364.77 340 (ARCIL) 3 Aditya Birla Finance 177.94 182 Limited (ABFL) 4 IDBI Bank Limited (IDBI 169.66 180 Bank) 5 IndusInd Bank 45.32 163 6 Ratnakar Bank Limited 54.33 69 (RBL) 7 Vani Agencies Pvt. Ltd. 148.00 148 (VAPL)* 8 Indian Cable Net Company Limited 5.16 5 (ICNCL) TOTAL 1,206.03 1,500 8. Total amount of outstanding borrowings As per Table above from Banks / financial institutions (in INR crore) 9. Total financial indebtedness of the listed As per Table above entity including short-term and long- term debt (in INR crore) *Financial Creditor claim of Zee Entertainment Enterprise Limited (ZEEL) (related party) has been assigned to Vani Agencies Private Limited (VAPL) on July 2, 2024. The Resolution Professional (RP), after verification and examination of the documents provided, has admitted the claim of VAPL as a financial debt. Further, VAPL has been classified in the same manner as ZEEL i.e. a related party of the Corporate Debtor under section 5(24) of the Insolvency and Bankruptcy Code, 2016. The Hon’ble National Company Law Tribunal, Mumbai Bench (“NCLT”), vide order dated 22 February 2023 (“Admission Order”), initiated the Corporate Insolvency Resolution Process (“CIRP”) of Siti Network Limited (“Siti”/ “Corporate Debtor”) under Section 7 of the Insolvency and Bankruptcy Code, 2016 (“IBC”) and appointed Mr. Rohit Mehra as the Interim Resolution Professional (“IRP”) of Siti Networks Limited (“Siti”). The Public Announcement in Form A was made on 25 February 2023, inter alia inviting the creditors to submit their claims to the IRP by 8 March 2023. Ms. Shilpi Asthana, director of Siti, filed a Company Appeal (AT)(Ins)/274/2023 before the Hon’ble National Company Law Appellate Tribunal, Principal Bench, New Delhi (“NCLAT”) against the Admission Order (“NCLAT Appeal”). The NCLAT Appeal was listed before the Hon’ble NCLAT, Principal Bench on 7 March 2023, wherein the Hon’ble NCLAT after hearing the preliminary arguments issued notice on the Appeal and passed an interim order directing that “in the meantime, operation of the impugned order shall remain stayed”. Vide an order dated 10 August 2023, the Hon’ble NCLAT has dismissed the NCLAT Appeal, along with all interim applications (“NCLAT Final Order”) A copy of the NCLAT Final Order was received by the IRP on the evening of 14 August 2023 (post business hours), by downloading from the website of the Hon’ble NCLAT. With the passing of the NCLAT Final Order, the Admission Order has been upheld, the stay on the operation of the Admission Order stands vacated and the CIRP of the Corporate Debtor stands reinstated, with Mr. Rohit Mehra as its IRP. Further, pursuant to Section 17 of the IBC, the powers of the Board of Directors of the Corporate Debtor are currently suspended and are vested in the IRP. On 1 October 2024, the Hon’ble NCLT passed its order (“1 October Order”) in I.A. 4844 of 2023 and held that (i) insolvency commencement date is fixed at 22 February 2023, (ii) the CIRP related activities should be reckoned from 22 February 2023, (iii) moratorium under Section 14 of the Code was applicable during the Stay Period, (iv) the transactions and appropriation undertaking during the Stay Period shall be revered to the accounts of the Corporate Debtor, and (v) the expenses incurred in the ordinary course of business to keep the Company as a going concern are to be protected. Certain lenders of the Company had filed appeals against the 1 October Order before the Hon’ble NCLAT. The RP has filed a limited appeal against the 1 October, 2024 Order for setting aside the observations and findings against the RP. On 29 October 2024, the Hon’ble NCLAT directed the lenders to keep the amounts appropriated by them during the Stay Period in a separate interest-bearing account during the pendency of the appeals. The Hon’ble NCLAT on 31 July 2025 passed its judgment in CA(AT)(INS) No. 1975 of 2024, CA(AT)(INS) No. 1977 of 2024, CA(AT)(INS) No. 1978-1979 of 2024, CA(AT)(INS) No. 2003 of 2024, CA(AT)(INS) No. 2005 of 2024, CA(AT)(INS) No. 2006 of 2024 and CA(AT)(INS) No. 2192 of 2024 dismissing all appeals and directing the financial creditors to remit the amount back to the corporate debtor along with accrued interest as per order dated 29 October 2024, (para 14) passed in these appeals, forthwith. Certain financial creditors have preferred appeals before the Hon’ble Supreme Court against the judgment of the Hon’ble NCLAT dated 31st July 2025. There is currently a stay granted by the Hon’ble Supreme Court to the financial creditors from remitting the amounts received by them during the stay period of the CIRP, and also a direction that no payments shall be made to operational creditors for liabilities relating to the stay period of the CIRP The present filing is being made on the basis of the claims received from the financial creditors as on 10th August 2023 and 22nd February 2023. Any further changes or additions pursuant to the outcome of the appeals before the Hon’ble Supreme Court will be duly incorporated in subsequent filings. Kindly take the same on record and oblige. Thanking you, Yours faithfully, For Siti Networks Limited Suresh Kumar Company Secretary and Compliance Officer Membership No. ACS 14390