SC says NCLAT to decide on spectrum sale of bankrupt Aircel

Mumbai : The Supreme Court (SC) on Friday said that the appellate tribunal will take a call if spectrum of bankrupt telco Aircel can be sold while statutory dues remain. The ruling will be critical for the bankrupty proceedings of Aircel and Reliance Communications (RCom) who are in the throes of exiting their insolvencies.

A two-member panel headed by S. Abdul Nazeer said National Company Law Appellate Tribunal (NCLAT) will take a decision on spectrum sale of Aircel. The apex court modified the September 1 order which had directed the dedicated bankruptcy court to decide on the issue.