Aircel has become the latest victim in the highly-competitive telecom market in the country with the operator along with its units Aircel Cellular and Dishnet Wireless filing for bankruptcy in the National Companies Law Tribunal (NCLT), Mumbai after its lenders and shareholders failed to reach a consensus with respect to the restructuring of its debt.
Aircel, majority owned by Malaysia-based Maxis Communications, said it has been facing troubled times in a highly financially stressed industry, owing to intense competition following the disruptive entry of a new player, legal and ...
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