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Aircel Ltd. was an Indian mobile network operator headquartered in Mumbai that offered voice and 2G and 3G data services. Maxis Communications held a 74% stake and Sindya Securities and Investments held the remaining 26%. [4]
Aircel - Moile Service Provider ... Aircel website
May 24, 2024 · Aircel's journey in India was fraught with challenges, including fierce competition and regulatory hurdles. The company exited the market in February 2018 due to financial problems.
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The Aircel-Maxis deal came under the scanner in 2011 when Chinnakannan Sivasankaran alleged that he was pressured to sell his stake to Maxis Berhad.
Mar 1, 2018 · Aircel, the sixth largest telecom operator in India, has shut down services in six circles and filed for insolvency in NCLT. The company blamed intense competition, legal and regulatory challenges, and unsustainable debt for its financial distress.
Sep 15, 2016 · Aircel will also transfer Rs 14,000 crore of its debt to the entity. Earlier this year, Aircel repaid part of its debt after selling 4G spectrum to Bharti Airtel in eight circles for Rs 3,500 crore. The combined subscriber base is estimated to be around 180 million along with a revenue market share of 6% each.
Mar 1, 2018 · Most banks had not classified Aircel as non-performing loan since they had invoked Strategic Debt Restructuring (SDR) in January 2018. Aircel became the first victim of the Reserve Bank of India ’s zeal to promote bankruptcy law to resolve default cases instead of numerous but complicated restructuring programmes that were holding up revival ...
