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Bharti Airtel: Seeking a clarification of the SC's January 3 order that asked them to pay Aircel Rs 112 crore, the Bharti entities told a Bench led by Justice Sanjiv Khanna that since the resolution plan of UV Assets Reconstruction Company to revive Aircel did not receive the Reserve Bank of India approval, its interests must be protected in case Aircel went into liquidation.
As a consequence of SC's decision not to entertain the plea, Airtel chose to withdraw its application.
Seeking a clarification of the SC's January 3 order that asked them to pay Aircel Rs 112 crore, the Bharti entities told a Bench led by Justice Sanjiv Khanna that since the resolution plan of UV Assets Reconstruction Company to revive Aircel did not receive the Reserve Bank of India approval, its interests must be protected in case Aircel went into liquidation.
Supreme Court rejects Bharti Airtel's appeal, orders payment of Rs 112 crore to Aircel for 4G spectrum dues, upholding NCLAT decision., , airtel, aircel, telecom
On Aircel being admitted to insolvency, Airtel owed it Rs. 453 crore towards STA and other dues. The Resolution Professional (RP) of Aircel called upon Airtel to make the payment in 2019. However, Airtel paid Rs. 341 crore and retained Rs. 112 crore.