DoT challenges NCLT nod to Aircel resolution plan

Mumbai/New Delhi: The telecom department has moved the National Company Law Appellate Tribunal, challenging the bankruptcy court’s approval of Aircel’s resolution plan.

The Department of Telecommunications alleged that Aircel’s resolution blueprint is a “liquidation plan” not aimed at reviving the bankrupt telco and includes the transfer of spectrum, which the government has yet to approve. A decision on spectrum will likely affect Reliance Communications (RCom), another bankrupt telco.