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More trouble for debt-laden Aircel; company under SFIO scanner

More trouble for debt-laden Aircel; company under SFIO scanner

Thu, Jun 14, 2018

Debt-laden Aircel has again come to news after Serious Fraud Investigation Office (SFIO) is probing alleged financial irregularities committed by the firm. The two other group entities -- Aircel Cellular and Dishnet Wireless are also under the SFIO lens.

IDBI Bank gave ex Aircel promoter C Sivasankaran another loan to recover an earlier one

IDBI Bank gave ex Aircel promoter C Sivasankaran another loan to recover an earlier one

Fri, May 04, 2018

Amid the Central Bureau of Investigation (CBI) probe of IDBI Bank’s loans to C Sivasankaran, former promoter of Aircel, it has emerged that the bank had extended a loan of $72 million to the latter in a hope of recovering earlier loans.

Aircel files for bankruptcy, American Tower suffers $140 mn hit

Aircel files for bankruptcy, American Tower suffers $140 mn hit

Thu, May 03, 2018

American Tower Corporation (ATC) has revealed a big hit to its books due to its tenant mobile operator Aircel, which has filed for bankruptcy protection. The NYSE-listed firm, after performing an impairment test, has reduced the value of assets listed on its books by as much as $140 million (Rs 933 crore) due to Aircel.

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Big relief, Aircel subscribers set to get their money back

Tue, Apr 24, 2018

Aircel has been instructed to prepare a list of all prepaid subscribers ported out between December 1, 2017 and March 10, 2018 with details of the unspent balance against each account and the status of transfer of the amount.

Aircel bankruptcy: At NCLT door, telco fails to pay 6000 employees over a whopping unpaid debt

Aircel bankruptcy: At NCLT door, telco fails to pay 6000 employees over a whopping unpaid debt

Tue, Mar 06, 2018

On February 28, Aircel Ltd, along with Aircel Cellular Ltd and Dishnet Wireless Ltd had filed for bankruptcy at the NCLT, citing high unsustainable debt, price wars, and legal and regulatory challenges.

Aircel files for bankruptcy at the National Company Law Tribunal

Aircel files for bankruptcy at the National Company Law Tribunal

Wed, Feb 28, 2018

“In these difficult times, the company seeks co-operation from all its stakeholders including the vendor fraternity and channel partners during the IBC process. The company requests continued services from the suppliers and partners for the ongoing business of the Company,” said Aircel.

Debt-laden Aircel expects things to get even 'more difficult'

Debt-laden Aircel expects things to get even 'more difficult'

Thu, Feb 22, 2018

The telecom firm is likely to file for bankruptcy at the National Company Law Tribunal.

Debt-laden Aircel to file for bankruptcy at NCLT

Debt-laden Aircel to file for bankruptcy at NCLT

Mon, Feb 19, 2018

Malaysian parent company Maxis, run by businessman Ananda Krishnan, had earlier proposed a cash infusion to support the debt-laden company.

RCom's rise and fall, and the white knight

RCom's rise and fall, and the white knight

Fri, Dec 29, 2017

RCom shares recovered over 100% in the last one week following an assurance from Anil Ambani, the owner of the company, that it will reduce debt

Eyeing opportunity in data space in Tier 2, 3 TN cities: Aircel

Eyeing opportunity in data space in Tier 2, 3 TN cities: Aircel

Sun, Dec 10, 2017

Telecom operator Aircel would continue offering best value for money plans to customers and look at opportunities in the data space, particularly in Tier II and III cities of Tamil Nadu, a company official said.

Airtel, Reliance Jio, Aircel partner with Amazon to offer cashback on mobile recharges

Airtel, Reliance Jio, Aircel partner with Amazon to offer cashback on mobile recharges

Wed, Nov 22, 2017

Push for Amazon's mobile wallet and mobile recharges on operator's network has now taken the form of cashback offers. We tell you all about it.

RCom to shut voice calls from Dec 1, subs can port till Dec 31

RCom to shut voice calls from Dec 1, subs can port till Dec 31

Fri, Nov 03, 2017

The Telecom Regulatory Authority of India (Trai) in direction to all telecom operators said that RCom on October 31, 2017 intimated it that "RCL (Reliance Communications Limited) shall provide only 4G data services to its customers and as a result will discontinue to provide voice services to the subscribers... with effect from 1st December 2017."

Reliance Communications expands board; elevates Punit Garg to Executive Director

Reliance Communications expands board; elevates Punit Garg to Executive Director

Mon, Oct 02, 2017

The Board of Directors of Reliance Communication has expanded its board by inducting senior executives.

Telecom subscriber base drops marginally to 121 crore

Telecom subscriber base drops marginally to 121 crore

Thu, Sep 14, 2017

Only three operators -- Reliance Jio, Bharti Airtel and state-run BSNL -- reported subscriber additions in the month, while eight other operators including Idea Cellular and Vodafone, saw a decline.

Six telcos underreported revenue by Rs 61,064.5 crore: CAG

Six telcos underreported revenue by Rs 61,064.5 crore: CAG

Fri, Jul 21, 2017

Private telcos, including Bharti Airtel, Vodafone and Idea, understated revenues to the extent of Rs 61,064.5 crore during 2010-11 and 2014-15, leading to a "short payment" of Rs 7,697.6 crore to the government, the CAG said today.

Bharti Airtel's deals with Videocon, Aircel approved: CCI

Bharti Airtel's deals with Videocon, Aircel approved: CCI

Fri, Jun 30, 2017

Under the deal, Bharti Airtel was to acquire the spectrum of Videocon Telecommunications Ltd (VTL) in six circles. In this regard, both had entered into a definitive agreement last March.

Anil Ambani announces to take no salary or commission from RCom in FY18

Anil Ambani announces to take no salary or commission from RCom in FY18

Wed, Jun 14, 2017

Reliance Communications' (RCom) owner Anil Ambani announced on Wednesday that he has voluntarily decided to draw no salary or commission from the telecom company in the current financial year.

Delay in plans to offset debt led telecom industry to crisis

Delay in plans to offset debt led telecom industry to crisis

Mon, Jun 12, 2017

The telecom sector is currently Rs 3.60 lakh crore in debt is facing a lot of turmoil including degrading of companies by ratings agencies. Analysts speak about the causes and how Reliance Jio added to their problems.

Lenders have given us time till December, says RCom’s Anil Ambani

Lenders have given us time till December, says RCom’s Anil Ambani

Fri, Jun 02, 2017

KEY HIGHLIGHTS:

Moody's, ICRA downgrade RCom over debt concerns

Moody's, ICRA downgrade RCom over debt concerns

Wed, May 31, 2017

RCom, controlled by billionaire Anil Ambani, has traditionally relied on short-term debt and covenant waivers from its banking relationships, but if these waivers are not received it could impact RCom`s $300 million bondholders "significantly", Moody`s said.

RCom shares fall further at nearly 8% in early trade on concerns about loan repayments

RCom shares fall further at nearly 8% in early trade on concerns about loan repayments

Tue, May 30, 2017

The shares of Anil Ambani-owned telecom company Reliance Communications (RCom) fell further by nearly 8% in the early morning trade on Tuesday on back of investor concerns over the company's ability to repay its loans.

RCom reports loss of Rs 948 crore in Q4 on disruptive pricing, competition

RCom reports loss of Rs 948 crore in Q4 on disruptive pricing, competition

Sun, May 28, 2017

Anil Ambani owned telecom company RCom has reported a loss of Rs 948 crore for the fourth quarter (Q4) ended on March 31, 2017 on back of intense price war in the telecom sector due to the entry of Reliance Jio which has hurt the profitability and income of the company.

TRAI data: Over 60 lakh requests for Mobile Number Portability received in March

TRAI data: Over 60 lakh requests for Mobile Number Portability received in March

Fri, May 19, 2017

Mobile Number Portability rose to reach 60.3 lakh requests in March this year taking the total number of MNP to 27.27 crore. Interestingly enough newcomer Reliance Jio added 58 lakh new subscribers to its subscriber base in the same month.

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