Lenders of Aircel and Reliance Communications (RCOM) are planning to challenge the National Company Law Appellate Tribunal’s (NCLAT) ruling over spectrum sale.

According to the lenders, they may lead to NPAs of around Rs 600 billion claimed by them.

In its order dated April 13, 2020, NCLAT had ruled that the spectrum cannot be utilized without payment of requisite dues which cannot be wiped off by triggering Corporate Insolvency Resolution Process (CIRP) under Insolvency and Bankruptcy (I&B) Code.