The company said it filed for bankruptcy to find the best possible resolution that would be in the best interests of its vendors, distributors and employees. Aircel has requested its suppliers and partners for continued services as it strives to provide uninterrupted customer service. The entry of Reliance Jio Infocomm Ltd in September 2016 with free calls and cheap data upended India’s telecom industry. Subsequently, Mukesh Ambani-led Reliance Jio Infocomm acquired the wireless assets of debt-laden Reliance Communications Ltd, bringing down the number of private operators to just three from nine during 2015-16. According to current rules, Aircel is not entitled to get back a part of its money after surrendering its spectrum to DoT.

Source: Mint February 28, 2018 11:36 UTC