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The Supreme Court has rejected the plea of diplomatic immunity raised by Aircel founder C

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 coul...

Aircel, RCom lenders likely to challenge NCLAT order on spectrum sale The NCLAT order on spectrum sale may block transfer of Aircel and RCom spectrum to UVARCL and leave Indian and foreign banks with non-performing assets of around Rs 60,000 crore as claimed by the lenders PTI | April 19, 2021 | Updated 08:04 IST Lenders of debt-ridden telecom firms Aircel and Reliance Communications are planning to challenge the ruling of company law tribunal NCLAT over spectrum sale as they fear it will lead to NPAs of around Rs 60,000 crore claimed by them. The National Company Law Appellate Tribunal (NC...

Aircel & RCOM steering towards liquidation, resulting in Rs 60,000 crore NPA for Indian and Foreign Banks SECTIONS Aircel & RCOM steering towards liquidation, resulting in Rs 60,000 crore NPA for Indian and Foreign BanksIANS Last Updated: Apr 18, 2021, 12:29 PM IST Share Synopsis According to experts, based on the NCLAT Judgement, the Resolution Plan of UV Asset Reconstruction Company Ltd. (UVARCL) for Aircel, which was approved in June 2020, will be unworkable and the company will be heading for liquidation, resulting in zero recovery for Rs 18,000 crore owed to the lenders. Agencies The Nat...

Photo Credit: IANS IANSLive New Delhi, April 18 (IANS) The National Company Law Appellate Tribunal (NCLAT) ruling of last week in the Aircel Vs. Department of Telecommunications (DOT) case has cast a shadow on the resolution plans of Aircel and Reliance Communication Ltd. (RCOM). To get full access of the story, click here to subscribe to IANS News Service © 2021 IANS India Private Limited. All Rights Reserved. The reproduction of the story/photograph in any form will be liable for legal action. For news, views and gossips, follow IANS at Twitter. Update: 18-April-2021