Experts point out how NCLAT's Aircel judgement could disrupt insolvency resolutions under IBC The order is likely to be challenged by Aircel's creditors in the Supreme Court. Synopsis In the case involving telco Aircel and the Department of Telecommunications, the NCLAT relied on a clause in the spectrum license agreement between the two parties to rule that government dues need to be paid in full prior to any transfer of the license under the IBC. The National Company Law Appellate Tribunal (NCLAT) judgement in the spectrum usage case has created a class within a class of creditors that could disrupt insolvency resolution under the Insolvency and Bankruptcy Code (IBC), according to experts.