Aircel is one of the Top 10 Mobile Networks operating in India, which was founded 19 years ago by C Sivasankaran.The Indian network giant, Aircel Ltd currently belongs to the Malaysian billionaire, T Ananda Krishnan. Krishnan, one of the top billionaires in Malaysia, had bought a huge stake (74%) of Aircel from Sivasankaran in 2005.

As of December 2017, Aircel had nearly 85 million subscribers, which has been decreased by now due to the network issues. Aircel was ranked India’s sixth-largest operator which covers 22 network circles. Aircel slipped on an operating loss of Rs 120 crore in December 2017, after their quarterly operating profit of Rs 120 crore in July 2016. The company said on Wednesday that the company has filed for bankruptcy in National Companies Law Tribunal (NCLT), Mumbai because of the tough business environment.The company had failed to convince their stakeholders on the resurrecting process of their Rs.15,500 crore Debt.

Trai has issued a directive to Aircel to ensure the smooth migration of its subscribers to other networks by allocating additional port out codes. Despite its 22 network circles, Aircel is going to shut down only 6 network circles which are listed as non-profitable. The cities that are going to affect by this shutdown are Gujarat, Haryana, Himachal Pradesh, Madhya Pradesh, Maharashtra and Uttar Pradesh West. After the veteran, Ambani’s new network product, Jio 4G LTE Network’s arrival, Aircel is the fourth company to shut down its services in India.

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