ATC moves to Delhi High Court to recover Rs 224 crore dues from Aircel

MUMBAI: American Tower Corp (ATC) has moved Delhi High Court against Aircel to recover dues worth Rs 224 crore outstanding for lease of towers, adding to the telco's woes towards finding a suitable debt recast plan. Tower company Bharti Infratel is also considering moving court to recover its dues from Aircel, said two people familiar with details. Earlier Wednesday, Idea Cellular said it has suspended inter-connection with the Maxis-owned operator due to pending payments.

"ATC filed a separate suit so that if others who have filed [can] get a favourable outcome; ATC shouldn't lose out," said one of the two people. Aircel leases a substantial number of telecom towers from ATC-acquired Viom Network, and may cancel some towers as it scales down unprofitable operations.

This comes after sparring partner GTL Infrastructure moved the Delhi High Court against Aircel for recovery of about Rs 912 crore for outstanding payments and penalty for premature rent termination. The ATC and GTL Infra cases come up for hearing on Thursday, February 8. The Delhi High Court will hear the matter to decide if GTL Infra's plea that Aircel should deposit money in court is valid. Bharti Infratel and ATC didn't respond to ET's emailed queries.

State Bank of India is a lead banker to Aircel. Strategic debt restructuring was initiated in Januaryend. A need to deposit money in court will negate the restructuring process as cash-strapped Aircel struggles to make vendor and interest payments alike.