Aircel files Bankrutacy ,Exit Soon

Mumbai Feb 28: In a Major development telecom operator Aircel has filed for bankruptcy in the National Companies Law Tribunal (NCLT) -Mumbai.Currently, the telecom operator has a huge debt of Rs 15,000 Cr.

Earlier the Company's proposal of Merger with RCom has failed because of regulatory hurdles and both the companies suffered and the RCoM had announced exit of telecom business of 2G and 3G.

Sources said that company had taken this move as a last option as various other methods such as infusion of capital has failed. Experts said that this move would ensure that the Operator would exit the market similar to other small operators.

Already Tata Teleservices and Telenor have been acquired and Idea has decided to merge with Vodafone .Earlier videocon has already exited the market.