India's sixth largest telco Aircel files for bankruptcy

India's sixth-largest telecom operator Aircel on Wednesday filed for bankruptcy at the National Company Law Tribunal (NCLT) claiming that it has a debt of ₹15,500 crore. This comes after the Ananda Krishnan-owned Malaysian parent Maxis Communications refused to infuse more funds into Aircel. Notably, Aircel's proposed merger with Anil Ambani's Reliance Communications had failed last year.