Vendors Mull Insolvency Action Against BSNL, MTNL for Pending Payments

Some vendors of BSNL and MTNL are mulling to move insolvency pleas against the state-run firms for non-payment of dues, estimated to be around Rs 20,000 crore, a senior industry body executive said on Monday, The Economic Times reported. The pending payments are against the supply of telecom gear and other goods to BSNL and MTNL as well as Rs 45,000-crore rural broadband project BharatNet, PHD Chamber of Commerce Telecom Committee chairman Sandeep Aggarwal told PTI. "The total pending payment of BSNL and MTNL vendors is around Rs 20,000 crore. Banks have started putting pressure on vendors to clear their dues. All vendors will jointly stage a protest on November 19. If payments are not made within 10 days thereafter, they will approach NCLT for liquidation of BSNL and MTNL," Aggarwal claimed. Read more