New Delhi, July 2 -- Aircel Ltd which once boasted of 90 million customers before it crumbled under crushing debt may return to the auction block, after a previous attempt to rescue the telecom operator failed to take off.

Lenders to the bankrupt company are looking to restart the corporate insolvency resolution process (CIRP), after its previous winner could not secure clearance from the Reserve Bank of India (RBI), a court petition showed. The lenders approached the National Company Law Tribunal (NCLT) in October, and the tribunal's Mumbai bench heard the lenders in May, two people aware of the matter said.

"The majority lenders of Aircel entities constituting more than 80% of the voting share in each of the Aircel entities have decid...