 "Lenders look to either convert Aircel's debt into equity or move NCLT")
Worried lenders to loss-making wireless telephony firm Aircel are looking at converting their debt into equity or moving the National Company Law Tribunal (NCLT) to recover their Rs 17,000-crore debt.
The development follows the proposed merger with Reliance Communications (RCom) being called off in October.
The lenders will meet this month to take a call on the company’s debt restructuring plan. They have also asked the promoters to bring in Rs 4,000 crore of additional equity.
Aircel has decided to exit six important circles in India to focus on its profitable circles. It is in discussions with
The development follows the proposed merger with Reliance Communications (RCom) being called off in October.
The lenders will meet this month to take a call on the company’s debt restructuring plan. They have also asked the promoters to bring in Rs 4,000 crore of additional equity.
Aircel has decided to exit six important circles in India to focus on its profitable circles. It is in discussions with
