New Delhi, Feb 28 (PTI) Malaysian billionaire T Ananda Krishnans mobile firm Aircel today filed for bankruptcy protection from creditors, saying high debt and mounting losses, following a price war triggered by a new entrant, have led the company to troubled times. Aircel, 74 per cent owne New Delhi, Feb 28 (PTI) Malaysian billionaire T…
With continuing daily headlines in the news it can be difficult to resist Brexit fatigue, but with the UK government and EU representatives at a very sensitive stage in the negotiations regarding the terms of the UKs exit from the EU, it is worth focussing for a moment on a less publicised end of the…
March 1, 2018 Troubled telecom operator Aircel Ltd filed for bankruptcy Wednesday, the latest episode in Indias telecom consolidation, marked by exits, fire sales and mergers that began with the entry of Reliance Jio Infocomm Ltd. One of Indias oldest telecom firms, Aircel filed an application at the Mumbai bench of National Company Law Tribunal…
A booming construction industry has not been enough to stop a Hawke’s Bay building company from going under – leaving dozens of homes unbuilt. About 100 subcontracting companies have also been left out of pocket. Just a month after building company owner Rob Fargher told Hawke’s Bay Today that he was “rushed off his feet”,…
Mumbai: Ananda Krishnan-led Aircel has filed for bankruptcy, citing “troubled times” in a “highly financially stressed” industry. Aircel and two other entities – Aircel Cellular and Dishnet Wireless – on Wednesday filed an application under Section 10 of the Insolvency and Bankruptcy Code (IBC), 2016 at the National Company Law Tribunal (NCLT), Mumbai. The fate…
The board of Carillion dismissed a proposal that could have poured £218m into the government contractors ailing pension scheme, believing a month before the companys collapse that they could still revive its fortunes. Details of a plan drawn up by accountancy firm EY, but rejected by directors, emerged as MPs conducting an inquiry into Carillions…
Melbourne-based fashion chain Zachary the Label was placed into voluntary administration on Monday 26th February according to insolvency firm Jirsch Sutherland who has been appointed administrators. Managing partner, Glenn Crisp, of Jirsch Sutherland has confirmed the decision was as a result of rapid expansion, in addition to restricted funds required to continue the operation of the business, produce stock…
National insolvency specialist Jirsch Sutherland has been appointed to handle the voluntary administration of Melbourne-based Australian fashion label and boutique retailer, Zachary the Label. The established brand was placed into Voluntary Administration on February 26. According to Jirsch Sutherland Melbourne managing partner Glenn Crisp, this was as a result of rapid expansion, in addition to…
Feb 28 (Reuters) – Aircel : * AIRCEL FILES FOR BANKRUPTCY * FILED APPLICATION FOR UNDERTAKING CORPORATE INSOLVENCY RESOLUTION PROCESS FOR AIRCEL CELLULAR, DISHNET WIRELESS AND AIRCEL LTD * ACKNOWLEDGED HAS BEEN FACING TROUBLED TIMES OWING TO INTENSE COMPETITION FOLLOWING DISRUPTIVE ENTRY OF A NEW PLAYER, LEGAL, REGULATORY CHALLENGES * REQUESTS CONTINUED SERVICES FROM SUPPLIERS…
Aircel has formally filed for bankruptcy. The company in a statement on Thursday said that it has “filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016 for undertaking Corporate Insolvency Resolution Process.” The Aircel has formally filed for bankruptcy. The company in a statement on Thursday said that it has “filed…