Aircel Cellular News Today

Sbi: The former Resolution Professional of Aircel entities has requested the Supreme Courts permission to sell the right to use spectrum on an interim basis in order to prevent a decline in its value. The professional stated that the limited term of the spectrum would result in a deterioration of its commercial use. The proposed sale would involve keeping the proceeds in an interest-bearing escrow account.

The former Resolution Professional of Aircel entities has requested the Supreme Courts permission to sell the right to use spectrum on an interim basis in order to prevent a decline in its value. The professional stated that the limited term of the spectrum would result in a deterioration of its commercial use. The proposed sale would involve keeping the proceeds in an interest-bearing escrow account.

State Bank of India (SBI) plans to sell over INR 960 billion ($12.9 billion) of distressed loans to asset reconstruction companies. The countrys largest bank prepared a list of 331 accounts, including loans to Future Group, Anil Ambani-promoted firms, Videocon Group and Jaypee Group, among others.

Telcos spectrum cant be treated as security interest by lenders: NCLAT Telecom companies have the right to use spectrum under the licence granted to them. However, they cannot be said to be the owners in possession. BusinessToday.In | April 14, 2021 | Updated 22:40 IST The tribunal made it clear that spectrum "cannot be treated as a security interest by the lenders". Debt-ridden telecom companies undergoing insolvency proceedings cannot claim rights to their spectrum, a natural resource, if pa...

NCLAT says lenders cannot treat telcos spectrum as security interest under insolvency proceedings SECTIONS Last Updated: Apr 13, 2021, 10:59 PM IST Share Synopsis NCLAT on Tuesday ruled that debt-ridden telecom companies undergoing insolvency proceedings cannot claim rights to their spectrum, which is a natural resource unless requisite spectrum usage payments have been made to the government. Agencies The National Company Law Appellate Tribunal (NCLAT) on Tuesday ruled that debt-ridden teleco...