Airtel claims Aircel putting lenders over operational creditors – Economic Times

MUMBAI: Bharti Airtel has accused bankrupt Aircel, which is trying to recover its dues from Indias No. 2 telco, of working towards benefitting its financial lenders at the cost of operational creditors.

Aircel entities or their resolution professional are seeking to enlarge the scope of their legal appeal, possibly with a view to take illegal and unfair advantage of a moratorium under Section 14 of the Insolvency & Bankruptcy Code and to maximise recovery for financial creditors at the cost of operational creditors such as Airtel entities, the Sunil Mittal-owned company said in an affidavit filed in the Supreme Court on Friday.

The affidavit was submitted as Aircel considered filing a contempt of court petition after Airtel paid the Maxi…

Read the full article at: https://economictimes.indiatimes.com/industry/telecom/airtel-claims-aircel-putting-lenders-over-operational-creditors/articleshow/67496933.cms

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