In a significant ruling, the Supreme Court of India rejected an appeal from lenders and defaulting telcos seeking to classify spectrum as an asset during the bankruptcy resolution.
The decision came in cases involving Aircel and Reliance Communications, and their lenders (including the State Bank of India) who argued that excluding spectrum from resolution processes would render any revival efforts futile, leaving “nothing to resolve.”
The appellants urged the court to recognise the right to use spectrum as a transferable asset, enabling its…
