Mar 06, 2018 09:21 PM IST
Last week Aircel said it has filed for bankruptcy as the company has been facing "troubled times" in a "highly financially stressed" industry.
- Mar 05, 2018 05:41 PM IST
The Madras High Court today issued notice to the Telecom Ministry and TRAI on a PIL seeking a direction for resumption of mobile provider Aircel's services at the earliest.
- Feb 28, 2018 05:39 PM IST
In a statement here, Aircel said that intense competition following the disruptive entry of a new player, legal and regulatory challenges, high level of unsustainable debt and increased losses had together caused significant "negative business and reputational impact" on the company.
- Feb 27, 2018 01:58 PM IST
TRAI sources told PTI that the company wrote to the regulator late last week saying it is undergoing "deep financial stress" and the recent reports that it may file for bankruptcy have created a "chaotic situation" with its subscribers, distributors and retailers and partners, with whom the company has had a long standing relationship.
- Feb 23, 2018 12:06 PM IST
As per the report, many employees want to leave the telecom sector as soon as possible.
- Feb 21, 2018 08:05 PM IST
A company official clarified the network service provider was facing some issues and they were trying to resolve it.
- Feb 07, 2018 01:28 PM IST
Idea said it will restore interconnect services immediately after Aircel makes the payment, but did not specify the outstanding amount.
- Jan 30, 2018 09:30 AM IST
While the lenders led by the State Bank of India (SBI) have approved the debt restructuring proposal, the final nod will have to come from the Delhi High Court.
- Dec 29, 2017 04:56 PM IST
In what could be considered a landmark year for the telecom sector in India, 2017 saw telcos consolidate like never before. By the end of the year, there were only three major players left in the market.
- Dec 21, 2017 12:46 PM IST
They said the agency will study the order and will knock on the doors of the high court armed with their evidence and investigation.
- Dec 01, 2017 11:30 AM IST
The action has also been conducted at the premises of one S Kailasam at Tenaympet in Chennai. Kailasam is the maternal uncle of Karti Chidambaram, the son of the former Finance Minister, the sources said.
- Nov 29, 2017 10:43 AM IST
Mittal said that the debt-ridden Aircel has two options, either to join Vodafone-Idea or go ahead with Airtel.
- Nov 17, 2017 01:52 PM IST
Aircel, the sixth-ranked mobile carrier in the country by subscribers, has delayed payment of interest on its debt obligations on account of its "weak liquidity position," CARE said in a Nov. 16 note.
- Nov 07, 2017 10:32 AM IST
Analysts feel shutting down the business using the bankruptcy route would invoke the bank guarantees of Aircel's Malaysian parent company Maxis.
- Oct 04, 2017 08:05 AM IST
"Reliance Communications Limited's (Rcom's) cancellation of the merger agreement of its mobile business with Aircel Limited has no impact on Rcom's Ca corporate family and senior secured bond ratings. The ratings outlook remains negative," Moody's said in a statement.
- Oct 03, 2017 01:58 PM IST
The endeavour remains to pare the debt by December end but by March 2018, the company would focus to reduce Rs 25,000 core out of the overall debt, said Punit Garg, ED, Reliance Communication.
- Oct 01, 2017 07:24 PM IST
Rcom and Aircel Limited had signed binding agreements in September 2016 for the merger of Rcom's mobile businesses with Aircel
- Sep 15, 2017 08:55 PM IST
Aircel, which is wholly owned subsidiary of Maxis, has a total debt of Rs 16,000 crore out of which Rs 12,000 crore is Indian debt.
- Sep 08, 2017 12:04 PM IST
This leads to the government losing out Rs12,229.24 crore as payment from spectrum usage charges and interest. These charges are computed by using telecom companies’ revenue as the base. On the basis of this report government has once again appointed special auditors to check irregularities in telecom company’s accounts.
- Aug 23, 2017 08:55 AM IST
Total mobile customer base of five COAI members that include Aircel and Telenor declined by 37.74 lakh to 82.6 crore in July from 83 crore at the end of June.
- Aug 04, 2017 12:38 PM IST
Indian telecom companies are seeking mergers and acquisitions to beat tough competition.
- Jul 21, 2017 03:53 PM IST
The Comptroller and Auditor General (CAG), in its latest report tabled in Parliament today, said its audit indicated "total understatement of adjusted gross revenue (AGR) of Rs 61,064.56 crore" by six operators.
- May 18, 2017 01:30 PM IST
On the last date of hearing, the CBI had told the court that more steps were needed to be taken to secure the presence of Krishnan and Marshall, who were charge-sheeted along with former Telecom Minister Dayanidhi Maran and his brother Kalanithi, in the case.
- Apr 24, 2017 04:22 PM IST
RCom, in September last year, had announced it will merge its wireless telecom business with smaller rival Aircel to create the country's fourth-biggest mobile phone operator.
- Apr 07, 2017 09:20 AM IST
Moreover, the RJio's extended free services for prime members till June, may also continue to keep the performance of telecom companies muted for the first quarter (April-June) of the current fiscal, according to ICICI Securities' latest earnings preview of the sector.