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Aircel files for bankruptcy

Wednesday, February 28, 2018 • Common Comments
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Aircel files for bankruptcy

What users of Aircel have been fearing for a few weeks now has become a shocking reality as Aircel has filed for bankruptcy with the National Companies Law Tribunal (NCLT).  The company is in debt to the tune of 15500 Crores and could not reach an agreement with its debtors to save itself.

The other units of Aircel , Aircel Cellular and Dishnet wireless also come under the bankruptcy and the official statement blames the entry of a new operator that caused them losses (read Jio).  The fate of the numerous customers would be known once the tribunal accepts the bankruptcy and the appointed insolvency professional chart out a repayment plan within a year's time. 

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