Saturday, March 08, 2025 | 05:10 PM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

UV Asset Reconstruction permitted to sell Aircel's spectrum rights

The order is on the resolution plan for Aircel and its subsidiaries Dishnet Wireless and Aircel Cellular.

Aircel
Premium

According to the NCLT order, UVARCL has proposed to pay Rs 19,600 crore, of which around Rs 6,630 crore is by way of ZOCDs (zero-coupon optionally convertible debentures) and the balance of Rs 12,970 crore is paid upfront.

T E NarasimhanSurajeet Das Gupta Chennai/New Delhi
Asset management company UV Asset Reconstruction Company (UVARCL) has been permitted to sell the right to use the spectrum held by Aircel in the 1800 and 2100 bands as part of the telecom company’s resolution plan the National Company Law Tribunal (NCLT) has cleared.

The order is on the resolution plan for Aircel and its subsidiaries Dishnet Wireless and Aircel Cellular. The outstanding debt of the three companies is around Rs 58,760 crore. Financial creditors will have to take a considerable haircut in this.

According to the NCLT order, UVARCL has proposed to pay Rs 19,600 crore, of which around Rs 6,630

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in