New Delhi:
It has come to light that state-owned Bharat Sanchar Nigam Ltd. (BSNL)
has approached the Department of Telecommunication for the recovery of
its outstanding dues from financially stressed telecom company Aircel,
which recently filed for bankruptcy, reported news agency PTI.
According to the report, the telecom PSU has written to the DoT for
exploring options, including legal remedies for recovery of dues from
Aircel to the tune of Rs 42 crore.
BSNL’s
move comes at a time when Aircel has filed for bankruptcy, after
failing to financially support growing competition in the Indian telecom
domain. BSNL Chairman and Managing Director Anupam Shrivastava
confirmed that the company had written to DoT, raising concerns about
pending dues recoverable from Aircel.
"As
regards to recovery of outstanding dues, BSNL could recover Rs 32 crore
from bank guarantees (BG) and the balance will be recovered after
reconciliation of some other BGs held by us or by BGs held by Government
of India or through legal process," Shrivastava told PTI.
1.3 lakh Aircel customers registered to join BSNL in five days as company files for bankruptcy
On
the other hand, Aircel has remained silent on its dues to the state-run
telecom company. In its communication to the DoT, BSNL said that
following Aircel and Dishnet Wireless filing for bankruptcy, the
state-owned telecom corporation had moved swiftly to recover the
outstanding amounts through follow-ups and invoking available bank
guarantees furnished by them.
The outstanding dues related to various arrangements such as inter-operator settlements like call connect usage charges, tower sharing and intra-circle roaming pacts. BSNL has said that while it has been able to recover Rs 32.2 crore, the net outstanding amount now stands at Rs 42 crore as of March 28, 2018.
The company has said it is exploring other options, including legal remedies, for recovering balance amount. It has also sought the government's intervention for recovering the balance outstanding dues "by way of setting off any excess amounts of the company that may be available with the Department of Telecommunications".
Aircel announced in February that it has filed for bankruptcy. The telecom operator had said that intense competition following the disruptive entry of a new player, legal and regulatory challenges, high level of unsustainable debt and increased losses had together caused significant "negative business and reputational impact" on the company.
Aircel had also stated that it believes resolution process under the Insolvency and Bankruptcy Code is an "appropriate recourse" given the circumstances. BSNL's Shrivastava said that the telecom corporation has been able to port in about 35 lakh Aircel customers. As per the latest report by telecom regulator, BSNL had 9.40 per cent share of mobile services market as on January 31 and added 3.96 lakh customers during that month.
The outstanding dues related to various arrangements such as inter-operator settlements like call connect usage charges, tower sharing and intra-circle roaming pacts. BSNL has said that while it has been able to recover Rs 32.2 crore, the net outstanding amount now stands at Rs 42 crore as of March 28, 2018.
The company has said it is exploring other options, including legal remedies, for recovering balance amount. It has also sought the government's intervention for recovering the balance outstanding dues "by way of setting off any excess amounts of the company that may be available with the Department of Telecommunications".
Aircel announced in February that it has filed for bankruptcy. The telecom operator had said that intense competition following the disruptive entry of a new player, legal and regulatory challenges, high level of unsustainable debt and increased losses had together caused significant "negative business and reputational impact" on the company.
Aircel had also stated that it believes resolution process under the Insolvency and Bankruptcy Code is an "appropriate recourse" given the circumstances. BSNL's Shrivastava said that the telecom corporation has been able to port in about 35 lakh Aircel customers. As per the latest report by telecom regulator, BSNL had 9.40 per cent share of mobile services market as on January 31 and added 3.96 lakh customers during that month.
