March 2018
11:20 PM IST
News Headlines
Home   | Main News   | Kerala  | National   | International  | Business   | Sports   | Entertainment   | Columns   | Offbeat   | About Deepika 
Business News
Debt-laden Aircel to file for bankruptcy at NCLT
(HYDERABAD, Feb 19, 2018):Telecom company Aircel will shortly file for bankruptcy at the National Company Law Tribunal (NCLT) and its board has been dissolved ahead of the move, said two people aware of the matter. That will mark the demise of the last small mobile phone company, leaving just four main non-state ones —soon to be three after a merger.

Malaysian parent company Maxis, run by businessman Ananda Krishnan, had earlier proposed a cash infusion to support the debt-laden company but has pulled the plug, said one of the people.

The company has been in negotiations with lenders since September but has failed to hammer out a recast of its Rs 15,500 crore debt.

“There is no cash to run the business and no visibility to free any more up,” said another person, adding that the company is likely to stop paying salaries by the end of the week.

Aircel declined to comment.

State Bank of India, which heads the group of lenders, didn’t respond to queries.

SAIC’s MG Motor India to invest Rs5,000 crore in next six years
Audi to hike car prices by up to Rs 9 lakh from April
RBI sets rupee reference rate at 64.9366 against US dollar
Indians choose travel over shopping, food: Survey
'Panama Papers' law firm shuts down operations
Delhi, Bangalore, Chennai among cheapest cities globally: EIU
Sensex extends losses, down 66 pts; Nifty below 10,400
SBI closes 41.2L SB accounts for not keeping minimum balance
RBI scraps bank LoUs in the aftermath of PNB fraud
Huawei, Savex Technologies partner for enterprise biz in India
Rupee opens 9 paise higher against US dollar
Sensex cautious on weak global cues; TCS cracks 5%
Rupee rises 23 paise against dollar in opening trade
Sensex rallies 301 pts ahead of IIP, inflation data
India braces for Donald Trump's reciprocal tax, may fight it in WTO
Sensex ends marginally lower on late sell-off
Rupee rebounds 4 paise in opening trade
Tata Steel could pip JSW to emerge as highest bidder for Bhushan Steel
Gujarat Refinery to invest Rs 24k cr on projects till 2022
Beneficiaries can get foodgrain quota from any ration shops: Paswan
Thousands witness Thirunakkara Pakal Pooram / Video
 (Kottayam, Mar 20, 2018, DG): Thousands of devotees took part in the Pakal Pooram organised a  
Sexist remarks by professor trigger protests
Will go ahead with paddy field acquisition: Pinarayi Vijayan
State BJP divided over KM Mani's NDA entry
Fundamentals of China's economy are sound: Chinese Premier
 (Beijing, Mar 20, 2018): Playing down global concerns on systemic financial risks being faced
US should not act emotionally on trade: Chinese Premier
Islamabad still mulling Kabul's offer of talks, overtures
US senator introduces bill aimed at protecting call centre jobs
Gun battle breaks out in Kupwara
 (Srinagar, Mar 20, 2018): An encounter broke out today between militants and security forces
Army jawan commits suicide by shooting self in Samba
Ruckus forces adjournment of Rajyasabha, Loksabha
Another Periyar statue vandalised in Tamil Nadu
Untitled Page
Rashtra Deepika LTD
Copyright @ 2017 , Rashtra Deepika Ltd.