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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
The Supreme Court has held statutory set off or insolvency set off is not applicable to Corporate Insolvency Resolution Process (“CIRP”) proceedings under the Insolvency and Bankruptcy Code, 2016...
Sbi: The former Resolution Professional of Aircel entities has requested the Supreme Court's 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 Court's 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.