Aircel spectrum sale to be decided by NCLAT: Supreme Court

NEW DELHI: Friday saw the first of what is likely to be several requests for clarification on the Supreme Court’s recent judgement on the AGR dues of telecom companies. On the day, the apex court clarified to bankrupt telecom company Aircel that the National Company Law Appellate Tribunal (NCLAT) will decide on the question of whether its creditors may sell its spectrum assets.

The two-judge bench headed by Justice S Abdul Nazeer, however, added that the decision was only for Aircel, since the NCLT has already approved the acquisition of these assets by UV Asset Reconstruction Company under its resolution plan. There are other companies in a similar situation, including Anil Ambani’s Reliance Communications (RCom) and Videocon Telecom.