ET spoke to Aircel distributors across telecom circles, who said they were still awaiting the management to spell out its next course of action.
This last resort was taken when the Malaysia-owned Maxis company failed to strike a truce with its lenders and shareholders.
The Ambani owned operator with 160 million subscribers refused to buy the industry body’s reasons.
Aircel is considering filing for bankruptcy in the NCLT, ET reported last Sunday, likely marking the demise of the last small mobile phone company.
Executive search firms, which have already received several resumes from Aircel employees, expect the number to shoot up post Aircel’s warning letter to its team members early this week.
The telco’s operations have been hurt by intense competition in a sector that has been a drag on the revenue and profitability of even the top operators.
Malaysian parent company Maxis had earlier proposed a cash infusion to support the debt-laden company but has pulled the plug, said one of the people.
World’s largest test-bed for 5G will be used to procure gears and hire top-notch researchers to usher in the next game-changer in the telecom industry
The share sale is part of Idea’s stated plans to raise Rs 6,750 crore to cut debt and free up cash ahead of its upcoming merger with Vodafone India.
In its petition, ATC said RCom’s responses to its demand to pay the dues were “evasive/non-committal”, indicating a “mala-fide intent” to avoid the payment.
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