 "Lenders look to either convert Aircel's debt into equity or move NCLT")
Aircel has decided to shut operations in six telecom circles from January 31 and focus on the remaining 16.
The company has licences and operates in 22 telecom circles in the country. Aircel is also looking at sharing spectrum with other mobile service providers to launch 4G services in all its circles. The decision to restructure Aircel’s business was taken by its Malaysian parent Maxis. In discussions with banks, Maxis has offered to bring in fresh equity in order to refinance Aircel’s Rs 15,000 crore debt.
Aircel has divided its circles into two categories. For four of the circles
