India: NCLT admits beleaguered telecom operator’s Aircel bankruptcy plea

Aircel
A banner for Aircel Ltd. is displayed outside a mobile phone store in Mumbai, India, on Monday, Oct. 24, 2016. Photographer: Dhiraj Singh/Bloomberg

The National Company Law Tribunal (NCLT) on Thursday admitted the bankruptcy petition filed by Aircel Ltd, even as it rejected the intervention sought by GTL Infrastructure Ltd, an operational creditor of the Chennai-based telecom company.

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