Lenders to Reliance Communications (RCOM) and Reliance Telecom Limited (RTL) are planning to move the Supreme Court (SC) for clarity on sale of spectrum.

The lenders have also informed the Mumbai bench of the National Company Law Tribunal (NCLT) about the same.

According to industry sources, lenders want the SC to direct the National Company Law Appellate Tribunal (NCLAT) to decide whether spectrum held by stressed telcos can be sold under Insolvency and Bankruptcy Code (IBC).

On September 1, 2020, the apex court had asked the NCLT to decide whether spectrum could be sold as part of the resolution process under the IBC.