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Aircel, RCom lenders likely to challenge NCLAT order on spectrum sale
The NCLAT order on spectrum sale may block transfer of Aircel and RCom spectrum to UVARCL and leave Indian and foreign banks with non-performing assets of around Rs 60,000 crore as claimed by the lenders
PTI | April 19, 2021 | Updated 08:04 IST
Lenders of debt-ridden telecom firms Aircel and Reliance Communications are planning to challenge the ruling of company law tribunal NCLAT over spectrum sale as they fear it will lead to NPAs of around Rs 60,000 crore claimed by them.
The National Company Law Appellate Tribunal (NCLAT) in its order dated April 13 had ruled that the spectrum cannot be utilized without payment of requisite dues which cannot be wiped off by triggering CIRP (Corporate Insolvency Resolution Process) under I&B (Insolvency and Bankruptcy) Code . ....

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