Aircel said it filed for bankruptcy to find the best possible resolution that would be in the best interest of its vendors, distributors and employees. Photo: Pradeep Gaur/Mint
Mumbai: Troubled telecom operator Aircel Ltd, which has filed for bankruptcy, approached the Mumbai bench of the National Company Law Tribunal (NCLT) on Monday for the appointment of an interim resolution professional (IRP).
The company has filed for bankruptcy along with its two subsidiaries since the company has a debt of over Rs50,000 crore, said senior counsel Janak Dwarkadas, who is appearing for the company. Out of that, Rs15,000 crore is due to financial creditors, while Rs35,000 crore to operational creditors.
According to the counsel, there is serious urge…
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