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Tower Firms and Land Lessors Allege Aircel

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GTL Infra has about 28,000 towers located across all the 22 telecom circles in India and is one of the largest telecom tower operators in the country. One of Aircel’s tower partners, GTL Infra said Aircel owes it Rs. 500 crore and it started defaulting on payments from October 2017. GTL approached the National Company Law Tribunal, seeking an investigation into Aircel by an interim resolution professional to safeguard the interests of lenders and creditors. Another company with a large exposure to Aircel is Indus Towers. GTL Infra said. “GTL Infra has strong contractual arrangements with Aircel, with long-term lock-in arrangements up to the year 2030. Rs. 500 crore is part of the operational outstandings.” Even the land lessors do not know the proper way to recover their rent pending from Aircel for months.

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