AIRCEL
Supreme Court rejects Bharti companies' pleas on Aircel payments
Seeking a clarification of the SC's January 3 order that asked them to pay Aircel Rs 112 crore, the Bharti entities told a Bench led by Justice Sanjiv Khanna that since the resolution plan of UV Assets Reconstruction Company to revive Aircel did not receive the Reserve Bank of India approval, its interests must be protected in case Aircel went into liquidation.
Aircel insolvency: Plea in Supreme Court for interim sale of right to use of spectrum
The former Resolution Professional of Aircel entities has requested the Supreme Court's permission to sell the right to use spectrum on an interim basis in order to prevent a decline in its value. The professional stated that the limited term of the spectrum would result in a deterioration of its commercial use. The proposed sale would involve keeping the proceeds in an interest-bearing escrow account.
Aircel will now give you 1GB data for Rs 76, full talk time on recharge of Rs 86
The offer would be available by downloading the Aircel app, and that also includes full talk time on a recharge of Rs 86 with 100MB free data.
In relief for Aircel, Supreme Court asks DoT and Airtel to pay up
Airtel paid the cash and submitted the bank guarantees to DoT on behalf of cash-stricken Aircel after adjusting the amounts against the spectrum deal.
Aircel and two other companies come under SFIO lens
SFIO is probing alleged financial irregularities at debt-laden Aircel as well as two group entities Aircel Cellular and Dishnet Wireless.
GTL Infrastructure seeks to intervene in Aircel bankruptcy proceedings
Aircel was GTL Infra’s biggest client. In its application, GTL Infra asked for travel restrictions on Aircel’s current directors to be extended to former directors and key executives.
TDSAT grants temporary relief to Aircel, bars DoT from encashing telco's bank guarantees
Aircel and its units Dishnet Wireless and Aircel Cellular have filed for bankruptcy after over four months of attempts to settle with lenders.
Airtel, Vodafone in claim game over Aircel subscribers
Market leader Bharti Airtel said it has got the largest share - around 50% nationally - of port-ins from Aircel customers in the last couple of weeks.
NCLT accepts Aircel's bankruptcy petition
Vijay Iyer of consultancy firm Deloitte Haskins & Sells has been nominated as insolvency resolution professional (IRP) from Aircel's side to start the resolution process.
ATC moves to Delhi High Court to recover Rs 224 crore dues from Aircel
The Delhi High Court will hear the matter to decide if GTL Infra’s plea that Aircel should deposit money in court is valid.
Aircel lenders led by SBI agree to restructure debt
The banks will now take shares in Aircel to replace their loans and may recover their dues in an eventual sale of assets or of the company.
After RCom, Aircel becomes second major telco in India to default on debt
As a result, rating agency CARE-which put Aircel's long term bank facilities to Rs 17479 crore, downgraded the telco to a default (D) grade for delays in repayments.
Aircel likely to file for bankruptcy; RCom shares take a dive
Following the report, shares of several lenders to Aircel also came under pressure.
Aircel goes for big job cut, 700 to get pink slips now
Cellular services major Aircel is all set to give pink slips to 700 staff - around 10% of its pan-India staff strength.
Aircel urges Supreme Court not to cancel spectrum licences
Aircel said the company isn’t accused in the case against Maran and if the government takes coercive action before the next hearing on Feb 3, it could be “fatal” for the company.
Aircel-Maxis case:PIL seeks to make Maxis subsidiaries accused
The plea moved through advocate Amit Khemka has also sought setting aside of the approvals granted to Bharti Airtel for acquisition of 4G spectrum of Aircel.
Attrition hits Aircel's top management
Attrition has hit Aircel’s top management even as the 2G scam rages and the company gears towards a possible sale.
Aircel-Maxis deal: Suneeta Reddy of Apollo questioned by CBI
CBI has questioned Suneeta Reddy on the alleged role of former Telecom Minister Dayanidhi Maran in the takeover of Aircel by Malaysian group Maxis.
'Investment in Aircel in full compliance with laws'
Maxis Communications Berhad (Maxis) has said that its investment in Aircel is in full compliance with the applicable laws of India and has the approval of the requisite authorities.
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