Department of Telecommunications refunds Rs 298 crore to Aircel

MUMBAI: The Department of Telecommunications has refunded Rs 298 crore to Aircel, bringing relief to the bankrupt mobile phone operator that has been struggling to maintain its assets ahead of their sale as part of an ongoing insolvency process and pay its employees their dues.

Deloitte, which is overseeing the last leg of a corporate insolvency resolution process, received the money from DoT on Tuesday, under a Supreme Court order, according to people familiar with the matter. Deloitte did not respond to ET’s queries by press time.

With this transaction, the debt-laden operator has recovered about Rs 639 crore after year-long legal battles with Bharti Airtel and DoT. The Maxis-owned operator is still fighting in the apex court to get over Rs 112 crore that it claims is due from Bharti Airtel.