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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]
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.
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 · The country's sixth largest telecom operator Aircel along with its units - Aircel Cellular and Dishnet Wireless - on Wednesday filed for bankruptcy in the National Companies Law Tribunal (NCLT)...
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Mar 1, 2018 · Gurugram-based telecom major Aircel filed for bankruptcy on Wednesday, after reaching a consensus with lenders and shareholders, and determining that process under the Insolvency and Bankruptcy...
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 ...
Feb 28, 2018 · Telecom giant Aircel on Wednesday said it has filed for bankruptcy as the firm was “facing troubled times in highly financially stressed industry”. In an official statement, the company said that unsustainable debt has impacted its reputation.
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