Supreme Court 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 NSE 0.94 % 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.