Maxis subsidiary Aircel to file for bankruptcy

Regulators in Malaysia, Singapore, Indonesia and Thailand have also placed Financial.org on alert lists of unauthorised firms with whom investors should exercise caution.

PETALING JAYA: Aircel Ltd, the debt-laden Indian mobile network operator based in Gurgaon and 74% owned by Maxis Communications Bhd, will be filing for bankruptcy at the National Company Law Tribunal (NCLT), according to The Economic Times.

Aircel’s Malaysian parent company Maxis Communications, run by businessman T Ananda Krishnan, had earlier proposed a cash infusion to support the telecommunications company, but has pulled the plug, the report said.