The last standing fringe operator Aircel, along with its units, has filed for bankruptcy in the National Companies Law Tribunal (NCLT)-Mumbai on Wednesday. This last resort was taken when the Malaysian owned Maxis company failed to strike a truce with its lenders and shareholders.
ET in its February 19 edition first reported that the Rs 15,500 crore debt laden telecom operator will be filing for bankruptcy.
The parent under businessman Ananda Krishnans call to pull the plug on further fund infusion added to its woes. Aircel shutting down will impact tower firms, vendors, distributors and 500 employees associated with the operator.
Then there are license fees, taxes, and interest payments. Idea Cellular ?has snapped its tie…
Read the full article at: https://economictimes.indiatimes.com/news/company/corporate-trends/aircel-countrys-last-small-mobile-phone-firm-file-for-bankruptcy-today/articleshow/63110441.cms
