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More trouble for debt-laden Aircel; company under SFIO scanner
Thu, Jun 14, 2018
Debt-laden Aircel has again come to news after Serious Fraud Investigation Office (SFIO) is probing alleged financial irregularities committed by the firm. The two other group entities -- Aircel Cellular and Dishnet Wireless are also under the SFIO lens.
IDBI Bank gave ex Aircel promoter C Sivasankaran another loan to recover an earlier one
Fri, May 04, 2018
Amid the Central Bureau of Investigation (CBI) probe of IDBI Bank’s loans to C Sivasankaran, former promoter of Aircel, it has emerged that the bank had extended a loan of $72 million to the latter in a hope of recovering earlier loans.
Aircel files for bankruptcy, American Tower suffers $140 mn hit
Thu, May 03, 2018
American Tower Corporation (ATC) has revealed a big hit to its books due to its tenant mobile operator Aircel, which has filed for bankruptcy protection. The NYSE-listed firm, after performing an impairment test, has reduced the value of assets listed on its books by as much as $140 million (Rs 933 crore) due to Aircel.
Big relief, Aircel subscribers set to get their money back
Tue, Apr 24, 2018
Aircel has been instructed to prepare a list of all prepaid subscribers ported out between December 1, 2017 and March 10, 2018 with details of the unspent balance against each account and the status of transfer of the amount.
Aircel bankruptcy: At NCLT door, telco fails to pay 6000 employees over a whopping unpaid debt
Tue, Mar 06, 2018
On February 28, Aircel Ltd, along with Aircel Cellular Ltd and Dishnet Wireless Ltd had filed for bankruptcy at the NCLT, citing high unsustainable debt, price wars, and legal and regulatory challenges.
Aircel files for bankruptcy at the National Company Law Tribunal
Wed, Feb 28, 2018
“In these difficult times, the company seeks co-operation from all its stakeholders including the vendor fraternity and channel partners during the IBC process. The company requests continued services from the suppliers and partners for the ongoing business of the Company,” said Aircel.
Debt-laden Aircel expects things to get even 'more difficult'
Thu, Feb 22, 2018
The telecom firm is likely to file for bankruptcy at the National Company Law Tribunal.
Debt-laden Aircel to file for bankruptcy at NCLT
Mon, Feb 19, 2018
Malaysian parent company Maxis, run by businessman Ananda Krishnan, had earlier proposed a cash infusion to support the debt-laden company.
RCom's rise and fall, and the white knight
Fri, Dec 29, 2017
RCom shares recovered over 100% in the last one week following an assurance from Anil Ambani, the owner of the company, that it will reduce debt
Eyeing opportunity in data space in Tier 2, 3 TN cities: Aircel
Sun, Dec 10, 2017
Telecom operator Aircel would continue offering best value for money plans to customers and look at opportunities in the data space, particularly in Tier II and III cities of Tamil Nadu, a company official said.
Airtel, Reliance Jio, Aircel partner with Amazon to offer cashback on mobile recharges
Wed, Nov 22, 2017
Push for Amazon's mobile wallet and mobile recharges on operator's network has now taken the form of cashback offers. We tell you all about it.
RCom to shut voice calls from Dec 1, subs can port till Dec 31
Fri, Nov 03, 2017
The Telecom Regulatory Authority of India (Trai) in direction to all telecom operators said that RCom on October 31, 2017 intimated it that "RCL (Reliance Communications Limited) shall provide only 4G data services to its customers and as a result will discontinue to provide voice services to the subscribers... with effect from 1st December 2017."
Reliance Communications expands board; elevates Punit Garg to Executive Director
Mon, Oct 02, 2017
The Board of Directors of Reliance Communication has expanded its board by inducting senior executives.
Telecom subscriber base drops marginally to 121 crore
Thu, Sep 14, 2017
Only three operators -- Reliance Jio, Bharti Airtel and state-run BSNL -- reported subscriber additions in the month, while eight other operators including Idea Cellular and Vodafone, saw a decline.
Six telcos underreported revenue by Rs 61,064.5 crore: CAG
Fri, Jul 21, 2017
Private telcos, including Bharti Airtel, Vodafone and Idea, understated revenues to the extent of Rs 61,064.5 crore during 2010-11 and 2014-15, leading to a "short payment" of Rs 7,697.6 crore to the government, the CAG said today.
Bharti Airtel's deals with Videocon, Aircel approved: CCI
Fri, Jun 30, 2017
Under the deal, Bharti Airtel was to acquire the spectrum of Videocon Telecommunications Ltd (VTL) in six circles. In this regard, both had entered into a definitive agreement last March.
Anil Ambani announces to take no salary or commission from RCom in FY18
Wed, Jun 14, 2017
Reliance Communications' (RCom) owner Anil Ambani announced on Wednesday that he has voluntarily decided to draw no salary or commission from the telecom company in the current financial year.
Delay in plans to offset debt led telecom industry to crisis
Mon, Jun 12, 2017
The telecom sector is currently Rs 3.60 lakh crore in debt is facing a lot of turmoil including degrading of companies by ratings agencies. Analysts speak about the causes and how Reliance Jio added to their problems.
Lenders have given us time till December, says RCom’s Anil Ambani
Fri, Jun 02, 2017
Moody's, ICRA downgrade RCom over debt concerns
Wed, May 31, 2017
RCom, controlled by billionaire Anil Ambani, has traditionally relied on short-term debt and covenant waivers from its banking relationships, but if these waivers are not received it could impact RCom`s $300 million bondholders "significantly", Moody`s said.