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Deloitte<\/a>, which is managing the debt resolution process of the now-defunct telecom operator, presented the asset reconstruction firm as its choice before its committee of creditors last week, one of the persons said. “More than 50-60 companies globally had been approached to bid for the operator’s assets and from there UVARCL was the final choice whose name has been sent to all the bankers,” the person said.
The lenders to Aircel, majority owned by Malaysia’s Maxis, include State Bank of India, China Development Bank<\/a> (CDB), Bank of Baroda and Punjab National Bank<\/a>. They will have a month to study the proposal. If a better proposal comes up during this time, that will also be presented to the bankers, another person said.
Under the Insolvency and Bankruptcy Code, approval of at least 66% of lenders, based on their share in the total debt, is needed for a proposal to pass. If lenders can’t agree on any offer, the assets will go into liquidation. If the proposal is approved, “the company (UVARCL) will take over the liabilities of Aircel, run a certain part of the operations and put up the rest for sale,” the second person said. The asset reconstruction firm may decide to keep the fibre business or work in the bulk messaging space and sell the rest, he added.
“We have no comment to offer at this stage,” UVARCL said in response to ET’s queries. Deloitte said it was “bound by confidentiality obligations” and “unable to comment on company specific matters”. Aircel, SBI, CDB, Bank of Baroda and Punjab National Bank didn’t respond to emails seeking comment.
Aircel, which ran mobile services across India and was particularly strong in the South, shut its services in March 2018 and voluntarily filed for bankruptcy, after coming under pressure due to brutal price competition in the sector and the burden of debt it took to acquire airwaves and fund expansion. The bankruptcy court, while admitting the pleas of Aircel and its Dishnet Wireless and Aircel Cellular units, noted that its enterprise business, along with the company’s spectrum, towers, fibre and other assets, was worth Rs 32,000 crore.
The company had previously made several efforts to raise funds to escape liquidation. It was reported that even Bharti Airtel<\/a> and Reliance Jio<\/a> Infocomm had put in bids for the assets.
The company also waged legal battles, mainly against the Department of Telecommunications (DoT) and some operators, to recover its dues from them. It managed to recover Rs 639 crore from Bharti Airtel and DoT. The company is still fighting a battle against Bharti Airtel in the Supreme court over Rs 112 crore that it claims the larger operator still owes it.
The company has about 1,500 employees on its payrolls. Last year, a team of employees managed to raise Rs 90 crore from vendors and clients who owed the company money. This, and infusion of Rs 95 crore in April last year by Maxis, then allowed it to clear employees’ salary arrears.
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紫外线资产重建公司可能接管Aircel如果66%的银行批准的建议
贷款人Aircel,多数属于马来西亚Maxis包括印度国家银行,中国国家开发银行、巴罗达银行和旁遮普国家银行。
德勤管理债务,现在电信运营商的解决过程,提出了资产重建公司的选择之前债权人委员会上周,一个人说。“全球50 - 60多家公司已经接近收购操作员的资产和从那里UVARCL是最后的选择的名字已经被发送到所有银行家,”这位人士说。
贷款人Aircel,多数属于马来西亚Maxis包括印度国家银行,中国国家开发银行(国开行),巴罗达银行和旁遮普国家银行。他们将有一个月的时间来研究这个提议。如果一个更好的建议出现在这段时间里,也将提交给银行,另一个人说。
破产和破产下代码,至少66%的银行批准,根据他们的债务总额的份额,需要一个提案通过。如果银行不能同意任何报价,这些资产将进入清算。如果这个提议得到批准,”该公司(UVARCL)将接管Aircel的负债,运行一个特定的行动的一部分,把其余的出售,”第二个人说。资产重建公司可能决定保持纤维业务或工作的大部分信息空间和卖剩下的,他补充说。
“我们没有评论提供在这个阶段,“UVARCL表示,为了应对等的查询。德勤表示,这是“受保密义务的约束”和“无法对公司具体事务发表评论”。Aircel,印度国家银行、国开行、巴罗达银行和旁遮普国家银行没有回复寻求置评的电子邮件。
Aircel跑印度各地移动服务,尤其在南方,在2018年3月关闭了服务,自愿申请破产,由于残酷的价格竞争的压力下的部门和债务负担获得电视广播和基金扩张。破产法庭,而承认的恳求Aircel及其Dishnet无线和Aircel细胞单位,指出其企业业务,随着公司的光谱,塔,纤维和其他资产,价值32000卢比。
该公司此前曾多次努力筹集资金为了逃避清算。据报道,甚至Bharti Airtel和依赖JioInfocomm把投标的资产。
该公司还进行合法斗争,主要是针对电信部(点)和一些运营商,恢复其会费。它设法恢复639卢比从Bharti Airtel和点。对抗Bharti Airtel公司仍战斗在最高法院声称大运营商112卢比仍然欠。
公司拥有约1500名员工的就业。去年,一个团队的员工设法筹集90卢比从供应商和客户欠公司的钱。这个,注入95卢比Maxis去年4月,然后允许它清楚员工的工资拖欠。
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