Aircel distributors have filed an application in the National Company Law Tribunal (NCLT) seeking classification as financial or operational creditors in the firm’s insolvency matter.
While the resolution professional of Aircel has classified over 53 distributors as other creditors, they have sought to be classified either as financial or operational creditors.
Further, the distributors have informed the NCLT that they had purchased vouchers and other products under the distributorship agreement, which was in force till February 2018. Aircel did not deliver the products or return their payments.
Meanwhile, Indus Towers has sought directions from the NCLT against the resolution professional as it is opposed to the resolution plan. The company has claimed that Aircel, Aircel Cellular and other connected companies owe Indus Towers Rs 8,430 million. While Indus has filed a claim in this regard, the entire value has not been admitted by the resolution professional. Therefore, Indus has objections with the resolution plan.
The NCLT is scheduled to hear both the matters next week.