Road to resolution: Potential bidders for Aircel could buy company in parts

Aircel has a debt of nearly Rs 200 billion and attempts to restructure the loan did not come though, forcing the company to go to the NCLT in February

Potential bidders for cash-strapped Aircel have been offered the option of buying assets of the company instead of looking at acquiring the firm.

The specific assets for which potential bidders like Airtel and Reliance Jio, as well as a leading private equity fund, have shown an interest include its optic fibre and enterprise business. Both the companies, however, declined to comment on the issue and the final bids have not come in.   

Under Regulation 29 of the Insolvency and Bankruptcy Board of India (IBBI), the “resolution professional may sell unencumbered assets of the corporate debtor, other than the ordinary