SBI to SC: RCom insolvency process to collapse if spectrum isn’t a part

Mumbai: State Bank of India, representing creditors of Reliance Communications (RCom), has told the Supreme Court that spectrum is an “essential and integral” part of the telco’s assets and the insolvency process would fall apart if the right to use airwaves isn’t allowed to be transferred.

Without any spectrum to use, the telco would cease to continue as a going concern and cannot be transferred as a going concern, as required by the Insolvency and Bankruptcy Code, SBI said in an affidavit filed Thursday in the top court, seeking to be made a party to the case.