NCLAT to decide on Aircel spectrum sale

NEW DELHI: The Supreme Court on Friday said the National Company Law Appellate Tribunal (NCLAT) will decide whether lenders can sell spectrum rights of bankrupt telecom operator Aircel Group under the ongoing insolvency resolution process.

A two-judge bench headed by Justice S. Abdul Nazeer said the decision will be limited to Aircel, as the National Company Law Tribunal (NCLT) has already approved UV Asset Reconstruction Co. Ltd’s resolution bid for the company. Two other bankrupt telcos—Reliance Communications Ltd (RCom) and Videocon Telecommunications Ltd—are at different stages of the resolution process.