J.Sagar Associates advised Aircel Limited and its subsidiaries Aircel Cellular Limited and Dishnet Wireless Limited for initiation of Corporate Insolvency Resolution Process under the provisions of the Insolvency and Bankruptcy Code, 2016 (“Code”) by making an application before the National Company Law Tribunal, Mumbai Bench.

The Applications were heard and the Hon’ble Tribunal was pleased to pass a preliminary Order in open court admitting the three Applications and mentioned that a detailed reasoned Order shall follow. The Applications were filed On February 28, 2018 and the preliminary Order admitting the Applications for initiation of Corporate Insolvency Resolution Process was passed on March 8, 2018.

Aircel is involved in providing telecommunication services in 16 circles in India with a large subscriber base. This is the first corporate debtor filing under the Code by a company in the retail sector of this size.

The JSAteam comprised Joint Managing PartnerDina Wadia; Partners Divyanshu Pandey, Varghese Thomas and Aditya Rathi; and AssociatesYohaannLimathwalla, Arpita Latta, Puja Kumari and Siddharth Tandon.