June 3rd, 2021 9:47 AM 0 COMMENTS

Aircel Lenders Approach Supreme Court Over NCLAT Order

The Committee of Creditors (CoC) of Aircel has approached the Supreme Court (SC) to overrule the order of the National Company Law Appellate Tribunal (NCLAT) that restrict them from selling the spectrum before the overall dues of the company are cleared. Because of the order, Aircel might have to move towards liquidation, which will hurt all of its lenders who are trying to recover their money from the company. To... Read More

April 18th, 2021 9:38 PM 4 COMMENTS

Aircel, Rcom Might Resort to Liquidation After NCLAT Decision: Report

Last week, The National Company Law Appellate Tribunal (NCLAT) announced its verdict in the Aircel vs the Department of Telecommunications (DOT) case. The verdict had a direct effect on the resolution plans of Aircel and Reliance Communication Ltd. (RCom) The resolution plan of UV Asset Reconstruction Company Ltd. (UVARCL) for Aircel was approved in June 2020.  However, according to an IANS report, experts believe that NCLAT's decision has rendered the... Read More

April 15th, 2021 12:21 PM 4 COMMENTS

RCom and Aircel’s Resolution Plans in Trouble After NCLAT Judgement

Much recently, the National Company Law Appellate Tribunal (NCLAT) said that the telcos under insolvency process or Insolvency and Bankruptcy Code (IBC) can’t ‘use or transfer’ their spectrum until the time they have cleared all government dues. Because of the decision, RCom and Aircel’s resolution plans have taken a hit. According to an ET Telecom report, the lenders of Aircel and the UV Asset Reconstruction Company Limited (UVARCL) might approach... Read More

January 28th, 2021 11:27 AM 1 COMMENTS

Aircel Looking to Monetise Assets Besides Spectrum, Report

Aircel, a former Indian telecom operator, filed for bankruptcy in 2018, is now looking to monetise its assets other than spectrum. The operator will consider appealing for the same at the dedicated bankruptcy court. Aircel wants to monetise its non-spectrum assets for paying salaries to its employees and maintain assets until the time its legal tussle with the telecom department is over. The company will transfer the money realised from... Read More

October 1st, 2020 2:13 PM 21 COMMENTS

Telecom Operators Need to Clear AGR Dues Before Transferring Rights of Spectrum Use

The government of India is all set to oppose transfer of the right to use spectrum of bankrupt operators like Reliance Communications and Aircel unless their statutory dues are cleared. The apex court during the hearing of AGR dues matter had also asked whether operators under Insolvency and Bankruptcy Code (IBC) can sell its spectrum to another telecom company. The answer to that question isn’t clear yet. However, ET Telecom... Read More

August 20th, 2020 8:35 PM 0 COMMENTS

AGR Dues: Government Can’t Backtrack After Allowing Spectrum as Security Says Ranjit Kumar

So far in the AGR dues case, Reliance Jio has made it clear that it has paid all the AGR dues which includes the spectrum usage charges as well. It is interesting to see that the court’s hearing has shifted from the primary concern of AGR dues to whether or not spectrum can be sold by a company under IBC. In yesterday’s hearing, SC had posed a question that when... Read More

August 19th, 2020 12:43 PM 1 COMMENTS

DoT: Aircel’s Resolution Plan Made by UVARCL Against Law

Back in June, the National Company Law Tribunal (NCLT) had approved UV Asset Reconstruction Company Ltd. (UVARCL) to run Aircel’s small units such as enterprise and bulk SMS divisions. The company had to work out a resolution plan for Aircel. But now, the Department of Telecommunications (DoT) has challenged the decision of Aircel’s resolution plan. DoT believes that Aircel's resolution plan is actually a liquidation plan. The plan is not... Read More

June 19th, 2020 6:52 PM 4 COMMENTS

UV ARC To Help Aircel With a Resolution Plan Approved by NCLT

Aircel Ltd filed for voluntary insolvency back in February 2018 because of lack of liquidity and the ability to pay back the debt. It has finally found some help though. The Mumbai bench of National Company Law Tribunal (NCLT) has approved a resolution plan presented by UV Asset Reconstruction Company. The resolution plan is of Rs 6,630 crore and primarily focuses on getting money from zero-coupon optionally convertible debentures. However,... Read More

February 12th, 2020 9:42 AM 0 COMMENTS

Aircel Distributors Approach NCLT Over Unpaid Dues

Aircel, the telecom operator which closed operations back in January 2018, is still in the news due to some pending dues. Aircel distributors approached the National Company Law Tribunal (NCLT) on Tuesday in search of classification on financial or operational creditor in the telco's insolvency matter. Over 53 distributors sought to be named either as an operational creditor or a financial creditor, reports PTI. These distributors urged that they have... Read More

October 17th, 2019 5:09 PM 11 COMMENTS

Trai Gives Final Opportunity to Aircel Subscribers for Porting Out to Other Networks by October 31

The Telecom Regulatory Authority of India (Trai) in the latest release has confirmed that Aircel customers who're yet to port out to another network will be given a final chance for making a shift. Subscribers of Aircel who are still on the network can choose either Reliance Jio or Bharti Airtel or Vodafone Idea or BSNL or MTNL by the end of October 2019, post which they won't be able... Read More

June 11th, 2019 6:54 PM 22 COMMENTS

DoT Urges Aircel to Return Spectrum Against Unpaid Arrears

The Department of Telecommunications (DoT) has asked the bankrupt telecom operator, Aircel, to return its spectrum to the government as it has not yet paid its arrears for the same, reported an ET Telecom report. This non-payment of the arrears has created a significant roadblock for the operator's bankruptcy process and is starting to hurt the lenders of Aircel. On Monday, the department informed the bankruptcy court that Aircel didn't... Read More

January 4th, 2019 7:55 PM 0 COMMENTS

Aircel Files Contempt Petition Against Airtel and DoT After Disobedience of SC Order

In the Supreme Court, a group of 300 employees of Aircel and its subsidiary Dishnet Wireless have filed a contempt petition against Bharti Airtel, the Department of Telecommunications (DoT) and Bharti Hexacom since they could not furnish the bank guarantees worth Rs 453 crores. As per an ET Telecom report, the employees filed the petition on Wednesday and urged the Apex Court to “initiate contempt proceedings”. This time in the... Read More

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