Spectrum under IBC can’t be used if govt dues are not paid: NCLAT Premium Ruling deals a blow to lenders to bankrupt Reliance Communications (RCom), Aircel Group and Videocon Telecommunications Ltd (Photo: Mint) Share Via Read Full Story Spectrum held by telecom operators cannot be transferred to new buyers under insolvency proceedings if government dues are not cleared, the National Company Law Appellate Tribunal (NCLAT) ruled on Tuesday, dealing a blow to lenders to bankrupt telcos Reliance Communications Ltd (RCom), Aircel Group and Videocon Telecommunications Ltd. The appellate tribunal clarified that spectrum, which is an intangible asset of a telecom company, can be subjected to insolvency proceedings or liquidation. However, telcos cannot use or transfer the airwaves under the Insolvency and Bankruptcy Code (IBC) without settling government dues.