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Aircel Insolvency: UV ARC Proposes Rs 6630 Crore Resolution Plan

Aircel Insolvency: UV ARC Proposes Rs 6630 Crore Resolution Plan

Submitted by • February 18, 2020

UV Asset Reconstruction Company has proposed a resolution plan for the bankrupt telecom operator Aircel Ltd. and its subsidiaries—Aircel Cellular Ltd. and Dishnet Wireless Ltd. Under the proposed resolution plan, which has been approved by the committee of creditors, the ARC will issue zero coupon optionally convertible debentures worth Rs 6,630 crore against the secured financial creditor’s claims of around Rs 19,600 crore.

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