NCLT to hear plea on RCom spectrum today

CHENNAI: Bankrupt Reliance Communications’ (RCom) spectrum assets are set to become a matter before the bankruptcy courts yet again on Thursday. The National Company Law Tribunal (NCLT) is likely to hold a hearing on a petition filed by the company’s resolution professional citing fears that that Department of Telecommunications (DoT) is unlikely to renew RCom’s spectrum licences leaving almost nothing worth selling in the company.

Last week, according to industry sources, the bankrupt teleco had approached the NCLT stating that if DoT did not renew its spectrum licences, when they expired on July 27, RCom’s resolution process would be threatened.